
The EU statistics office Eurostat has today revealed euro zone industrial output gained 0.7% in October, recovering from a 0.7% decline the previous month.
On an annual basis, meanwhile, industrial output grew by 6.9%.However, both figures were less than a monthly increase of 1.3% and an annual increase of 7.6% forecast by economists.
On an regional basis, the best performances were seen in Luxembourg and Greece where increases of 6.4% and 3.6% were recorded respectively.
Crisis-torn Ireland, which has recently been bailed out to the tune of €85 billion, saw a 4.8% fall in production, the biggest fall in the euro zone.
The euro zone’s largest economy, Germany, experienced a 3% gain in production – the country is currently driving the recovery of the euro zone.
In the meantime, industrial production in the 27-nation EU, rose 0.3% on the month.