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- Eurozone’s industrial production declines 0.5% in August
Eurozone’s industrial production declines 0.5% in August
Eurostat released its industrial production data for the Eurozone on Wednesday. Industrial production in the Eurozone declined 0.5% in August, in line with expectations, after a 0.8% gain in July. July's figure was revised up from a 0.6% rise.
The decrease was driven by declines in energy, non-durable consumer goods and capital output. Energy output dropped 3.0% in August, non-durable consumer goods were down 0.1%, while capital goods output fell by 1.0%.
Intermediate goods increased by 0.2% in August, while durable consumer goods output climbed 2.3%.
On a yearly basis, Eurozone's industrial production gained 0.9% in August, exceeding expectations for a 1.8% rise, after a 1.7% increase in July. July's figure was revised down from a 1.9% gain.
The increase was driven by rises in durable and non-durable consumer goods and capital goods. Durable consumer goods climbed by 4.5% in August from a year ago, capital goods rose by 2.8%, while non-durable consumer goods gained by 0.1%.
Energy output was down by 1.6% in August from a year ago, while intermediate output declined by 0.6%.
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