Pamela Newenham
Last Updated: Tuesday, January 14, 2014, 10:41
Ireland recorded 13.2 per cent growth in industrial
production between November 2012 and November 2013, according to the latest
figures from the EU’s statistics office Eurostat.
This is the highest increase in the EU ahead of Slovakia
(+12.7 per cent), the Czech Republic (+8.8 per cent) and Romania (+8.7 per
cent).
Ireland also had the highest month on month increase between
October and November last year, rising 11.7 per cent, compared to EU average
growth of 1.5 per cent and a Euro Area average of 1.9 per cent.
Euro zone industrial production in November rose much more
than expected, signalling stronger momentum behind the bloc’s economic recovery
in the last quarter of 2013.
Industrial production in 17 countries sharing the euro
jumped 1.8 per cent in November, after an upwardly revised 0.8 per cent drop in
October, Eurostat said.
The monthly rise, the euro zone’s strongest since May 2010, was
fueled by a jump in the output of capital goods and a 2.2 per cent rise in the
production of durable consumer goods, such as electronics and cars.
Compared with the same period of last year, industrial
production rose 3.0 per cent in November after a upwardly revised 0.5 per cent
rise in October.
The data points to a slight acceleration of the economic
recovery of the €9.5 trillion economy in the last quarter of 2013 compared with
the previous three months, when it nearly stalled because of a weak performance
of France and Italy.
Production in the bloc’s largest economy, Germany, grew 2.4
per cent on the month in November, showing its strongest rise since July 2011,
while output in the second largest France rose 1.4 per cent.
French president Francois Hollande is to unveil a new reform
agenda this afternoon to give fresh impetus the economy.
The southern periphery, where the crisis erased tens of
thousands of jobs and sent countries into the arms of international creditors,
saw some improvement as Spain’s output returned to growth and Portugal’s
production was up by 1.5 per cent.
Additional reporting: Reuters
© 2014 irishtimes.com
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