Euro area industrial production rises in November

Industrial production in the euro area rose 1 percent on a seasonally adjusted basis in November, showed the estimates from Eurostat. On a year-on-year basis, industrial production was up 3.2 percent.

The sequential rose of 1 percent in the euro area is driven by production of capital goods that rose 3 percent, along with 1.6 percent rise in durable consumer goods and 1.1 percent rise in intermediate goods. Non-durable consumer goods rose 0.1 percent, whereas production of energy continued to be unchanged. Among the member states, Germany and Luxembourg recorded 3.6 percent and 3.4 percent rises. On the other hand Ireland recorded the largest fall of 9.4 percent.

The year-on-year rise of 3.2 percent was driven by production of capital goods, which rose 6.2 percent. Both intermediate and durable consumer goods rose 4.6 percent, whereas production of energy and non-durable consumer goods dropped 3.4 percent and 0.1 percent, respectively. Among member states, the highest rise in industrial production was seen in Slovenia that recorded a growth of 9.9 percent. Meanwhile, Ireland and the Netherlands saw decreases of 10.1 percent and 4.7 percent, respectively.

At 16:00 GMT the FxWirePro's Hourly Strength Index of Euro was slightly bullish 61.5268, while the FxWirePro's Hourly Strength Index of US Dollar was neutral at -31.5776. For more details on FxWirePro's Currency Strength Index, visit http://www.fxwirepro.com/currencyindex

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