Eurozone industrial production rose more than expected in July

According to the report from Eurostat, in July 2020, a month marked by some relaxation of COVID-19 containment measures in many Member States, the seasonally adjusted industrial production rose by 4.1% in both the euro area and EU, compared with June 2020. Economists had expected a 0.3% increase in the euro area. In June 2020, industrial production rose by 9.5% in the euro area and by 9.6% in the EU. 

In July 2020 compared with July 2019, industrial production decreased by 7.7% in the euro area and by 7.3% in the EU. Economists had expected a 8.2% decrease in the euro area. 

In the euro area in July 2020, compared with June 2020, production of capital goods rose by 5.3%, durable consumer goods by 4.7%, intermediate goods by 4.2%, non-durable consumer goods by 3.9% and energy by 1.1%. In the EU, production of capital goods rose by 5.6%, durable consumer goods by 4.8%, intermediate goods by 3.9%, non-durable consumer goods by 2.8% and energy by 1.3%.

In the euro area in July 2020, compared with July 2019, production of capital goods fell by 10.4%, intermediate goods by 9.3%, energy by 6.2%, durable consumer goods by 3.8% and non-durable consumer goods by 1.9%. In the EU, production of capital goods fell by 10.2%, intermediate goods by 8.7%, energy by 6.6%, non-durable consumer goods by 2.5% and durable consumer goods by 2.0%.