Eurozone Industrial production fell less than expected in February

According to the report from Eurostat, in February 2020 - the month before COVID-19 containment measures began to be widely introduced by Member States - compared with January 2020, seasonally adjusted industrial production fell by 0.1% in the euro area and remained unchanged in the EU. Economists had expected a 0.2% decrease in the euro area. In January 2020, industrial production grew by 2.3% in the euro area and by 2.1% in the EU.

In February 2020 compared with February 2019, industrial production decreased by 1.9% in the euro area and by 1.3% in the EU. Economists had expected a 2.0% decrease in the euro area.

In the euro area in February 2020, compared with January 2020, production of durable consumer goods fell by 2.0% and capital goods by 1.5%, while production of both intermediate goods and non-durable consumer goods rose by 0.4% and energy by 0.7%. In the EU, production of durable consumer goods fell by 1.4% and capital goods by 1.2%, while production of both intermediate goods and non-durable consumer goods rose by 0.6% and energy by 1.0%.

In the euro area in February 2020, compared with February 2019, production of capital goods fell by 3.6%, energy by 2.2% and intermediate goods by 0.8%, while production of non-durable consumer goods rose by 0.1% and durable consumer goods by 0.9%. In the EU, production of capital goods fell by 3.1%, energy by 1.7% and intermediate goods by 0.2%, while production of non-durable consumer goods rose by 0.5% and durable consumer goods by 1.5%.