Caixin macroeconomist Jack Allen-Reynolds stated in a report that the stagnation of industrial production in the Eurozone in October indicates that its industrial sector remains weak and will continue to struggle. He said that in fact, without Irish data, the G20's unchanged production data would look much worse, possibly declining by 0.5% month-on-month, while Irish data is notoriously unstable. Allen-Reynolds indicated that output in October, excluding Ireland, fell 2.8% year-on-year and was 18% lower than the output level in energy-intensive industries before the outbreak of the Russia-Ukraine conflict. He noted that automotive production is 17% lower than pre-pandemic levels, and while the performance of other industries is not as poor, the latest surveys show that overall industrial production continues to decline.