Eurozone: Slight increase in industrial production as downturn moderates – ING

Bert Colijn, senior economist at ING, notes that Eurozone industrial production increased by 0.1% in September as there's renewed optimism as to Europe's industrial outlook.

Key Quotes

“Cautious growth in eurozone production for the second month in a row indicates that the downturn is moderating, but it seems too early to say we've definitely hit bottom. October manufacturing surveys indicate continued contraction, albeit at a milder pace.”

“The September production data again confirmed that Germany remains at the epicentre of eurozone industrial weakness. Annual growth in Germany has fallen to -5.3%, far worse than the -2% in Italy and stable production in France. Spain and the Netherlands even saw a slight increase of 0.4% and 0.7% year-on-year respectively.”