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Eurostat released industrial output data for the Eurozone on Wednesday. Industrial production in the Eurozone rose 0.2% in November, exceeding expectations for a flat reading, after a 0.3% rise in October. October's figure was revised up from a 0.1 increase.
The increase was driven by higher production of durable consumer goods. The production of durable consumer goods rose 1.9%, non-durable consumer goods gained 0.5% and intermediate goods increased 0.3% in November, while capital goods declined by 0.2% and energy by 0.9%.
That could be signs falling oil prices may lead to higher household demand for other goods and services.
On a yearly basis, Eurozone's industrial production fell 0.4% in November, beating expectations for a 0.9% drop, after a 0.8% gain in October. October's figure was revised up from a 0.7 increase.
The decline was driven by falling oil prices. The production of energy dropped 4.8%, capital goods declined 0.9% and intermediate goods fell 0.6% in November, while durable consumer goods increased 0.4% and non-durable consumer goods rose by 3.2%.
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