Eurozone industrial production down 1.1%

Eurozone industrial production shrank by 1.1 percent on a monthly basis in October, compared with a 0.2-percent contraction in September, suggesting a fragile recovery picture in Europe,European Union (EU) statistics office said Thursday. In the EU, industrial production posted monthly decline as well, of 0.7 percent, in October, a slightly deterioration from a 0.2-percent increase in September, Eurostat data showed. The contracted industrial output in both areas can be seen mostly at production of energy, which fell significantly by 4.0 percent and 2.7 percent in the eurozone and the EU respectively. Production of durable consumer goods decreased by 2.4 percent and 1.5 percent in the eurozone and the EU respectively, and that of capital goods dropped by 1.3 percent in the euro area and by 0.9 percent in the EU, the data showed. Production of Intermediate goods rose by 0.4 percent and 0.5 percent respectively.