Eurozone welcomes manufacturing improvement

factoryIndustrial output across the eurozone jumped by 1.8% in November.

The increase was welcomed by analysts as a reasonable indication that the area is finally experiencing a modest recovery, especially after a drop of 0.8% in October.

Portugal was in line with the average, with growth of 1.5%.

In November, the biggest monthly gain was in Ireland with 11.7% while there was growth of 2.5% in the Netherlands, Germany was up 2.4% and France saw a gain of 1.4%.

Falls in output were felt in six eurozone countries, including Greece with a -2.2% drop.

Positive news was also found in that output rose by 3% in the eurozone when compared to November 2012.

November 2013 showed the largest monthly gain since May 2010.