The eurozone's goods trade surplus missed expectations in November while industrial output growth was stronger than anticipated, data published by Eurostat showed Thursday.
First estimates of euro area balance showed a EUR9.9 billion surplus in trade in goods in November, down 46% from EUR18.4 billion, as Eurostat reported a month ago for October, and 36% lower than EUR15.4 billion in November 2024. It was worse than a milder reduction in the surplus to EUR15.2 billion that had been expected by the FXStreet-cited consensus.
Meanwhile, industrial production growth in the eurozone was 0.7% on-month in November, the same pace as in October, which was revised down from 0.8%. It beat the consensus of just 0.5% growth.
The sharpest monthly growth was in Estonia with 6.0%, followed by Lithuania with 5.8% and Cyprus with 1.8%. The worst monthly declines were in Luxembourg with 7.3%, Portugal with 3.0% and Belgium with 2.3%
Annual industrial production growth in the eurozone was 2.5% in November, up from 1.7% in October which was revised down from 2.0%. It beat the consensus of 2.0% growth for November.
The highest annual growth was in Ireland with 10.6%, followed by Cyprus with 10.5% and Croatia with 8.8%. The worst annual falls in industrial production in the eurozone were in Malta with 8.2%, followed by Slovakia with 4.5% and Luxembourg with 3.6%.