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Brussels - Eurozone industrial production in November rose much more than expected, signalling stronger momentum behind the bloc's economic recovery in the last quarter of 2013.
Industrial production in 17 countries sharing the euro jumped 1.8% on the month in November, after an upwardly revised 0.8% drop in October, the EU's statistics office Eurostat said on Tuesday.
The monthly rise, the euro zone's strongest since May 2010, was fueled by a 3.0 jump in the output of capital goods and a 2.2% rise in the production of durable consumer goods, such as electronics and cars.
Recovery
Economists in a poll expected production to increase 1.4% on the month, against a previously reported 1.1% decline in October.
Compared with the same period of last year, industrial production rose 3.0% in November after a upwardly revised 0.5% rise in October.
The data points to a slight acceleration of the economic recovery of the €9.5trn economy in the last quarter of 2013 compared with the previous three months, when it nearly stalled because of a weak performance of France and Italy.
Production in the bloc's largest economy, Germany, grew 2.4% on the month in November, showing its strongest rise since July 2011, while output in the second largest France rose 1.4%.
Industrial production in 17 countries sharing the euro jumped 1.8% on the month in November, after an upwardly revised 0.8% drop in October, the EU's statistics office Eurostat said on Tuesday.
The monthly rise, the euro zone's strongest since May 2010, was fueled by a 3.0 jump in the output of capital goods and a 2.2% rise in the production of durable consumer goods, such as electronics and cars.
Recovery
Economists in a poll expected production to increase 1.4% on the month, against a previously reported 1.1% decline in October.
Compared with the same period of last year, industrial production rose 3.0% in November after a upwardly revised 0.5% rise in October.
The data points to a slight acceleration of the economic recovery of the €9.5trn economy in the last quarter of 2013 compared with the previous three months, when it nearly stalled because of a weak performance of France and Italy.
Production in the bloc's largest economy, Germany, grew 2.4% on the month in November, showing its strongest rise since July 2011, while output in the second largest France rose 1.4%.
