Eurozone industrial production grew far stronger than anyone expected

EU European Union flag golf costume ryder cup(AP Photo/Peter Morrison)Europe fans dressed in the colours of the European flag pose for the camera as they attend the second day of the Ryder Cup golf tournament at Gleneagles, Scotland, Saturday, Sept. 27, 2014.

Industrial production in the eurozone rose by 1.9% in the year to October, beating forecasts by some distance.

Production was up 0.6% from September alone.

Analyst expectations suggested a 0.3% boost month-on-month, and a 1.3% increase year-on-year.

Lithuanian industrial production surged a massive 11% month-on-month, according to the figures from Eurostat.

Ireland’s recovery is also impressive, with production growing 3.4%.

Greece was at the bottom of the pile with a 1.2% drop in production, while Denmark and Finland both registered falls.

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