Industrial production in the eurozone fell more than expected in May

According to the report from Eurostat, in May 2021, the seasonally adjusted industrial production fell by 1.0% in the euro area and by 0.9% in the EU, compared with April 2021. Economists had expected a 0.2% decrease in the euro area. In April 2021, industrial production rose by 0.6% in the euro area and by 0.5% in the EU.

In May 2021 compared with May 2020, industrial production increased by 20.5% in the euro area and by 21.2% in the EU. Economists had expected a 22.2% increase in the euro area.

In the euro area in May 2021, compared with April 2021, production of non-durable consumer goods fell by 2.3%, energy by 1.9%, capital goods by 1.6% and intermediate goods by 0.2%, while production of durable consumer goods rose by 1.6%.

In the EU, production of energy fell by 2.0%, non-durable consumer goods by 1.7%, capital goods by 1.6% and intermediate goods by 0.1%, while production of durable consumer goods rose by 1.5%.

In the euro area in May 2021, compared with May 2020, production of durable consumer rose by 37.6%, capital goods by 27.6%, intermediate goods by 24.1%, non-durable consumer goods by 9.7% and energy by 7.1%. In the EU, production of durable consumer rose by 39.1%, capital goods by 29.6%, intermediate goods by 24.2%, non durable consumer goods by 10.1% and energy by 7.1%.