Eurozone industrial output grows, trade surplus drops sharply
By Benjamin Chiou
Date: Thursday 15 Jan 2026
(Sharecast News) - Industrial production across the eurozone rose for the third straight month in November, data from Eurostat showed on Thursday, while the region's trade surplus with the rest of the world fell more than expected.
Seasonally adjusted industrial production increased by 0.7% in November across the single-currency region, following a 0.7% rise in October, coming in ahead of the 0.5% expected by analysts.
November's gain was tied with October for the strongest monthly increase in industrial production since May 2025.
Growth was led by a 2.8% increase in the production of capital goods, and a 0.3% increase in the production of intermediate goods, which was able to offset falls in the production of energy (-2.2%), durable consumer goods (-1.3%) and non-durable consumer goods (-0.6%).
Meanwhile, Eurostat also reported that the eurozone's trade balance shrank to €9.9bn in November, from €17.9bn in October, coming in well below the €15.2bn consensus forecast.
The seasonably adjusted value of goods exported out of the region totalled €238.8bn, up 1.1% over the month, while imports rose 2.5% to €228.1bn.
In terms of trade partners, the UK was the second-largest export market for the eurozone, importing €13.0bn of goods but exporting €28.4bn. That equalled out to a trade surplus of €15.4bn, down from €16.5bn 12 months earlier.
Meanwhile, the region's surplus with the US dropped to €10.7bn from €18.2bn, as exports sank 20.3% year-on-year to €37.4bn and imports fell 7.1% to €26.7bn.
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