Euro zone September industry production dips less than expected
In September, euro zone industrial production sank by less than expected, driven down mostly by an abrupt dip in the output of durable goods, such as vehicles or fridges, as the European Union statistics office reported on Monday.
Eurostat told that industrial output in the 19-member single currency bloc in September tumbled by 0.8% during the month, though it was 1.2% higher year-on-year.
A Reuters survey of economists had forecast a steeper monthly dip of 1.0%and a more moderate 1% surge from a year earlier.
The monthly sink in September follows an upwardly revised ascend in industrial output in August of about 1.8%. Eurostat also revised up its earlier forecasts for the year-on-year production change in August to 2.2%.
Those compared with the originally posted figures of 1.6 and 1.8% respectively.
Euro zone production stuck to a seven-month pattern in which surges in one month are followed by drops the following month.