Data published by Eurostat showed that in October, eurozone industrial production increased by 1.1% after a 0.2% decline in September. Economists had expected a 1.2% increase. Meanwhile, in annual terms, the growth of industrial production slowed to 3.3% from 5.1% in September (revised from +5.2%).
The data showed that the monthly growth was caused by an increase in the production of capital goods (+3.0%), durable consumer goods (+1.7%), short-term consumer goods (+0.4%) and energy (+0.1%). Meanwhile, a decrease was recorded in the intermediate goods sector - production fell by 0.6% compared to September.
Eurostat reported that in annual terms, the catalysts for growth were the production of short-term consumer goods (+6.9%), capital goods (+5.2%), durable consumer goods (+2.3%) and intermediate goods (+2.1%). However, energy production decreased by 1.0% compared to October 2020.
Among the EU member states, the largest annual growth was recorded in Lithuania (+ 22.7%), Greece (+ 17.2%) and Denmark (+ 14.0%).