The industrial production in eurozone increased by 2.5 percent in November 2020 compared to October, however in a year-on-year basis, it declined by 0.6 percent, Eurostat, the statistical office of the European Union, said on Wednesday
MOSCOW (Pakistan Point News / Sputnik - 13th January, 2021) The industrial production in eurozone increased by 2.5 percent in November 2020 compared to October, however in a year-on-year basis, it declined by 0.6 percent, Eurostat, the statistical office of the European Union, said on Wednesday.
"In November 2020, the seasonally adjusted industrial production rose by 2.5% in the euro area and by 2.3% in the EU, compared with October 2020, according to estimates from Eurostat ... In October 2020, industrial production grew by 2.3% in the euro area and by 2.0% in the EU," Eurostat said in a press release.
According to the agency, in November 2020, the industrial production decreased by 0.6 percent in eurozone year-on-year and by 0.4 percent in the EU.
In 2020, the EU economy plunged into the worst economic crisis in decades as the spread of COVID-19 prompted the adoption of lockdown measures by member countries. The restrictive measures resulted in huge job cuts, general decrease in the economic activity, partial suspension of air traffic and other negative factors for the development of economy.
