In an unexpected sign of strength, Europe shows almost 8% growth in industrial production year over year
In November 2010 compared with October 2010, seasonally adjusted industrial production rose by 1.2% in the euro area (EA16) and by 1.4% in the EU272. In October3 production grew by 0.7% and 0.4% respectively.Via Bloomberg:
In November 2010 compared with November 2009, industrial production increased by 7.4% in the euro area and by 7.8% in the EU27.
“The near-term outlook for Eurozone industrial production is promising,” said Howard Archer, chief European economist at IHS Global Insight in London. “Nevertheless, it still seems likely that euro-zone manufacturers will find life more difficult as 2011 progresses.”