ANKARA
Eurozone industrial production rose by 0.6 percent in September compared to the previous month after the more-than one percent decline seen in August, the EU’s statistical authority said on Wednesday.
“In September 2014 compared with August 2014, seasonally adjusted industrial production rose by 0.6 percent in both the Euro Area (EA18) and the EU28,” Eurostat said in a statement.
Although industrial production has rebounded, it is far from easing worries over the union’s economic condition after a 1.4 percent shrinkage observed in August.
Among the union’s largest economies, Germany rebounded weakly – by 1.7 percent – in September after a disappointing 3.4 percent contraction in August. Italy contracted by 0.9 percent after a meager 0.2 percent expansion the previous month.
The second-largest economy of the union, France also just managed to pass the stagnation line with 0.1 percent growth after an earlier 0.2 percent shrinkage.
Earlier this month the OECD urged the European Central Bank to act swiftly to avoid the increasing risk of stagnation in the euro area.
The OECD said countries must employ all monetary, fiscal and structural reform policies at their disposal to address these risks and support growth.
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