Finance
Euro zone industry did not fall in Oct but recovery not in sight
Published by Global Banking & Finance Review®
Posted on December 13, 2024
2 min readLast updated: January 27, 2026
Global Banking & Finance Review®
Company
Published by Global Banking & Finance Review®
Posted on December 13, 2024
2 min readLast updated: January 27, 2026
Euro zone industry remained unchanged in October, defying expectations of a decline. Despite this, no recovery is evident as energy costs and weak demand persist.
FRANKFURT (Reuters) - Euro zone industrial production was unchanged in October from the previous month, outperforming expectations of a slight fall, but data suggested that no recovery was in sight for a sector deep in recession for close to two years now.
The unchanged figure released by Eurostat was just ahead of economist forecasts for a 0.1% decline, and follows a 1.5% drop in September.
Germany, France and the Netherlands all reported negative readings on the month while Italian output stagnated, leaving Spain as the only one of the biggest euro zone countries with a positive reading.
Industry has suffered for years on sharply rising energy costs, waning demand from China, higher financing costs for investment and cautious consumer spending at home.
This weakness was one of the key reasons the European Central Bank cut interest rates on Thursday and lowered its growth outlook, arguing there was uncertainty in abundance.
Compared to a year earlier, the euro zone's industrial output was 1.2% lower, beating expectations for a 1.9% fall.
Compared with the previous month, energy, durable goods and consumer goods production all fell and only capital goods production rose.
(Reporting by Balazs Koranyi; Editing by Peter Graff)
The article discusses the stagnation of Euro zone industrial production in October and the lack of recovery in sight.
The ECB cut interest rates due to industrial weakness and uncertainty in the Euro zone economy.
Germany, France, and the Netherlands reported negative industrial outputs in October.
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