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Eurozone industrial production posts fifth monthly rise

Leadership

Eurozone industrial production posts fifth monthly rise

12.11.2009
Industrial production in the Eurozone rose by 0.3pc during September compared to August, marking the fifth monthly rise in a row and offering further indications of a pick-up in 16-nation economic zone of countries using the euro.

Among the member states for which data was available, Ireland’s industrial production rate rose at the strongest rate (+11.2pc) in the EU during the month, the Eurostat figures showed.

Germany posted the second-highest rate of +3pc, Eurostat said, with the most significant falls recorded in Italy (-5.3pc), Portugal (-3.3pc) and Bulgaria (-2.6pc).

Looking at industrial production in annual terms showed a decline of 12.9pc since September of last year, the European Commission’s statistical agency Eurostat said today.

However, the monthly industrial production figures support the view that the Eurozone has left the recession behind and returned to positive economic growth in the third quarter of the year.

All eyes will be on the Eurozone GDP statistics released tomorrow, which are expected to show positive quarterly growth for the first time since the second quarter of 2008.

 

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