Industrial production in the euro area rose as expected in November, but not enough to erase earlier losses. There was no significant change in the sector, which is in recession for a second year, Eurostat data show.
Output in Bulgaria remained at the level of October, when it contracted by 0.9%.
Industrial production in the 20 euro area countries rose by 0.2% on a monthly basis after a similar rise in October, mostly due to higher output of energy and durable goods.
Compared with a year earlier, however, output was down 1.9% and remains well below the bloc's pre-pandemic level.
The industry is in a deep recession as rising energy costs, weak demand from Asia, cheaper competition and the inability of the German car sector to adapt to changing consumption patterns impact sales.
Although monthly production figures are often volatile, poor order data, especially from Germany, the bloc's largest economy, show no meaningful recovery. This decline was large enough to drag Germany's overall growth into negative territory in 2024 for the second year in a row and possibly keep overall eurozone growth well below 1%.
Compared with a year earlier, Germany recorded the largest decline in industrial production among the largest euro area countries. | BGNES
