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Euro zone industrial production strengthens

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Euro zone industrial production strengthens

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Industrial production in the euro zone was much stronger than expected in November.

The latest figures from the EU’s statistics office confirm that the economic recovery in the region is gaining momentum.

Seasonally adjusted industrial output in the twelve countries using the euro rose 1.3% in November from October.

That was better than economists had been expecting.

The largest month-on-month increase was in Ireland, where production surged 10.6%.

Next was the Netherlands with a 5% rise and Portugal and France with 3.5% and 3.1% increases respectively.

Economists expect the strengthening euro zone economy, with industrial production up 2.6% year-on-year, will lead the European Central Bank to raise interest rates in March.