Eurozone Industrial Output Rises More than Expected


Industrial production in the Euro Area increased by 3.2 percent year-on-year in November 2017, beating market expectations of 3 percent and easing from an upwardly revised 3.9 percent gain in the previous month. Output of intermediate goods rose at a softer pace while production of energy and non-durable consumer goods fell.

Year-on-year, production of intermediate goods grew at a slower 4.6 percent, after 5.3 percent in October; and that of non-durable consumer goods and energy fell 0.1 percent and 3.4 percent, compared to 5.4 percent growth and 1.7 percent drop in the previous month, respectively. Meanwhile, output growth accelerated for both capital goods (6.2 percent from 3.5 percent) and durable consumer goods (4.6 percent from 3.9 percent).

In the EU28, industrial output advanced by 3.5 percent, following a 4.2 percent gain in the previous month. Output expanded at a slower pace for intermediate goods (4.8 percent from 5.7 percent) and non-durable consumer goods (0.3 percent from 4.6 percent), and fell for energy (-2 percent from -0.5 percent). On the other hand, output rose faster for both capital goods (6.8 percent from 4.5 percent) and durable consumer goods (4.6 percent from 3.8 percent).

Among EU Member States for which data are available, the highest increases in industrial production were registered in Slovenia (9.9 percent), Romania (9.3 percent) and the Czech Republic (8.5 percent). Also, output grew in Germany (5.7 percent), Spain (4.6 percent) and France (2.7 percent).

On a monthly basis, industrial output jumped 1 percent, above market expectations of 0.8 percent, due to rising production of capital goods (3 percent), durable consumer goods (1.6 percent), intermediate goods (1.1 percent) and non-durable consumer goods (0.1 percent). By contrast, energy output was unchanged after a 0.2 percent gain in October. 

In the EU28, production grew 0.9 percent, as output rose for all components: capital goods (2.4 percent); durable consumer goods (1.4 percent); intermediate goods (0.9 percent); energy (0.4 percent) and non-durable consumer goods (0.2 percent).

Among EU Member States for which data are available, the largest increases in industrial production were registered in the Czech Republic and Germany (both 3.6 percent), and Luxembourg (3.4 percent). Also, output rose in Spain (1 percent), but fell in France (-0.5 percent).


Eurozone Industrial Output Rises More than Expected


Eurostat | Joana Ferreira | joana.ferreira@tradingeconomics.com
1/11/2018 10:25:22 AM