In October, industrial production within the Eurozone experienced a halt, as reported by Eurostat on Friday. This stagnation resulted from the growth in capital goods output being counterbalanced by reductions in energy and consumer goods production.
The industrial output did not show any variation in October, following a 1.5 percent decline in September, aligning with market expectations. Within the industry sectors, only capital goods showed an increase, rising by 1.7 percent. This was countered by a 1.9 percent decrease in energy output, a 1.8 percent reduction in durable consumer goods, and a 2.3 percent decline in non-durable consumer goods production. On an annual scale, the downturn in industrial production eased to 1.2 percent, an improvement from September's 2.2 percent drop, while expectations had been set at 1.9 percent.
Across the EU27, industrial production saw a modest 0.3 percent rise on a monthly basis, but there was a 0.8 percent decline compared to the same period the previous year.
Noteworthy growth during the month was observed in Ireland, Denmark, and Poland. In contrast, Lithuania, Belgium, and Croatia experienced the steepest declines.
According to Jack Allen-Reynolds, an economist at Capital Economics, the overarching scenario suggests that the Eurozone's industrial sector remains notably frail, and ongoing struggles are anticipated.
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