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Euro zone production rises in Oct on capital, consumer goods -Breaking

by Mike Robinson

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© Reuters. FILEPHOTO: ThyssenKrupp AG’s steel workers are seen emitting sparks from the blast furnace of Germany’s largest steel mill in Duisburg. REUTERS/Wolfgang Rattay/File Photo

BRUSSELS. (Reuters). Despite continued economic recovery, Euro zone industrial output rose in October as anticipated, according to data on Tuesday. Capital and durable consumer goods were the highest on record, while non-durable goods production was up year-on-year.

According to Eurostat, the European Union’s statistical office Eurostat reported that industrial production rose by 1.1% in October in 19 euro-member countries. This equates to a gain of 3.3% for the year.

Reuters polled economic experts and predicted a 1.2% increase in monthly inflation, and a 3.2% increase annually.

Eurostat reported that September’s industrial production of capital goods used for investment rose 3.0% compared to August. The year-on-year production of capital goods rose 5.2%.

Also, durable consumer goods were up 1.7% for the month, and 2.3% year-over-year, respectively. Non-durable consumer goods production was 6.9% higher than the same period last year, continuing an upward trend that has been evident in past months.

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