Industrial output in Eurozone remains unchanged in October

(MENAFN) Industrial production in the eurozone remained unchanged in October compared to the previous month, in line with market expectations, according to data released by Eurostat. This followed a 1.5 percent decline in industrial output in September. The stability in October suggests that industrial activity in the region was able to stabilize after a contraction in the prior month.

In contrast, industrial output in the broader European Union grew by 0.3 percent in October, recovering from a 1.4 percent decline in September. This recovery in the EU was driven by positive performances in several countries, notably Ireland, Denmark, and Poland, where industrial production saw increases of 5.7 percent, 5.4 percent, and 3.5 percent, respectively.

However, not all countries in the EU experienced growth. The largest declines in industrial production were observed in Lithuania, Belgium, and Croatia, which saw drops of 7.5 percent, 6.2 percent, and 3.9 percent, respectively. These regional disparities highlight the varying economic conditions within the EU.

On a year-on-year basis, industrial production in the eurozone decreased by 1.2 percent, while the EU as a whole saw a smaller decline of 0.8 percent. These figures reflect ongoing challenges in the industrial sector across the continent, with the eurozone particularly struggling to maintain growth in its manufacturing and production activities.

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