Industrial production increased by 0.2 per cent in the euro area and 0.1 per cent in the European Union (EU) in November 2024 compared to October, according to Eurostat latest data on Wednesday. This follows a 0.2 per cent rise in the euro area and a 0.4 per cent increase in the EU in October. However, on a year-on-year basis, industrial production in November fell by 1.9 per cent in the euro area and 1.7 per cent in the EU. Sector wise, the euro area recorded notable monthly increases in durable consumer goods (1.5 per cent), energy (1.1 per cent), and intermediate goods (0.5 per cent). Non-durable consumer goods rose slightly (0.1 per cent). In the EU, energy production grew by 1.3 per cent, durable consumer goods by 1.1 per cent, and intermediate goods by 0.4 per cent, while capital goods edged up 0.1 per cent. Non-durable consumer goods dipped by 0.1 per cent. Belgium, Malta, and Lithuania posted the highest monthly gains, while Ireland, Luxembourg, and Portugal recorded the largest declines. Annually, the euro area saw significant declines in intermediate goods (2.5 per cent) and capital goods (2.8 per cent), while durable consumer goods fell by 1.0 per cent and energy by 1.3 per cent. Non-durable consumer goods remained unchanged. Attribution: Amwal Al Ghad English Subediting: Y.Yasser
