Industry growth in Eurozone

first_img Show Comments ▼ whatsapp Industry growth in Eurozone Share INDUSTRIAL production rose across the Eurozone in November, it was announced yesterday, on a day of good economic data for the single currency area.Production increased by 1.2 per cent on the previous month, a far greater jump than had been expected by economists.The annual rate of production growth rose from 7.1 per cent to 7.4 per cent, as the euro area looks to recover.“The industrial sector will have made a decent contribution to Eurozone GDP growth in the fourth quarter of 2010,” said Howard Archer of IHS Global Insight.In France, industrial production jumped 2.3 per cent after strike action affected October’s results. Meanwhile, there were also monthly gains in Italy (1.1 per cent) and Spain (1.2 per cent).Germany experienced a surprise fall, dropping 0.7 per cent on the previous month, although 11.4 per cent year on year.And the outlook for the German economy remains extremely positive as official figures showed a 3.6 per cent uptick in GDP growth for 2010.The boom represents the sharpest annual growth rate since German reunification.The rapid recovery follows the previous year’s slump, when the German economy contracted by 4.7 per cent.And the upturn may have been even sharper if not for harsh winter conditions towards the end of the year. Growth in the fourth quarter probably slowed to around 0.6 per cent, compared to the third quarter, according to ING’s Carsten Brzeski. KCS-content Wednesday 12 January 2011 7:41 pm whatsapp More From Our Partners Russell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comSupermodel Anne Vyalitsyna claims income drop, pushes for child supportnypost.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgInside Ashton Kutcher and Mila Kunis’ not-so-average farmhouse estatenypost.comA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgBiden received funds from top Russia lobbyist before Nord Stream 2 giveawaynypost.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgBrave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Tags: NULLlast_img