Source:Eurostat

14 DECEMBER 2011

INDUSTRIAL OUTPUT in the Euro area moved up to -0.1% in October month-on-month (from -2%) pushed up by Capital Goods +1.2% positive upturn (from -3.9%)  and Intermediate Goods -0.8% gain (from -2.2%) allowing for Durable Consumer Goods to climb to -0.4% (from -3.4%). The Non Durable Consumer Goods output index turned positive to +0.6% (from -1.4%) 

The lingering Greek debt crisis and  extreme volatility recorded on world trading markets was met by industrialists resilience as confidence remained stable despite worst case scenarios including the banking sector's demise. 

In export-led Germany industrial output climbed +0.8% (from -2.9%), Italy's grew -0.9% (from -4.6%) but Spain's contracted for the second consecutive month -1.1%.The UK's production index worsened and fell -0.7% (from nil) while dynamic Nordic countries performed unevenly: in Finland, output contracted -1.3% (from -0.9%), Sweden's turned negative -0.3% (from +2%) while Denmark's rose to -0.1% (from -0.6%).

In Poland, the largest east European economy, output slowed down and dipped
-0.2% (from +1.5%) while its alter ego Slovakia moved down to +0.9% (from +3.3%). Production in Romania by contrast improved to -0.1% (from -0.7%)

In one year, industrial output in the Euro area halved to +1.3% dented by Durable Consumer Goods -2.1% dip (from -0.7%) as lesser automobile industry demand pushed down the component's performance. The production of Capital Goods stayed sustained and climbed +5.3% overwhelmingly due to the aerospace industry but Intermediate Goods moved down to +0.4% (from +2.2%). Output of Non Durable Consumer Goods rose to +0.9% (from +0.3%) ahead of the winter holidays. The production of energy nevertheless dipped -5.1% due to lesser industrial momentum.

Major economic weights carried over the global trade slow down triggered by the region's want of short term resolutions over the debt crisis. In Germany, output shed over one percentage point to +4.2%, while Italy's dipped twofold to -4.2% and Spain's dropped to -4%. The UK's production index contracted -2%, the third substantial consecutive decline and worsening. With the exception of Finland‘s -0.3%, Nordic states stayed abreast with Sweden's output climbing +6%, and Denmark's improved to -0.3%.
    
The Czech Republic, Poland and Slovakia kept their respective productions sustained, +1.7% +7.1% and +7.8%, above the previous month levels on an annual basis. Among bailed-out states, output dived -12.2% in Greece but picked +0.6% in Portugal and jumped +12.2% in Ireland.