Euro Area Industrial Output Posts Highest Drop Since August 2013


Industrial production in the Eurozone dropped 1.3 percent year-on-year in December 2015, compared to an upwardly revised 1.4 percent gain in the previous month while missing market consensus of 0.8 percent growth. It was the first fall since November 2014 and the sharpest since August 2013, as production of energy went down 7.3 percent and capital goods declined 2.6 percent. On a monthly basis, industrial output fell for the second straight month by 1 percent following a 0.5 percent decline in November.

Year-on-year, industrial production fell 1.3 percent due to lower production of energy (-7.3 percent) and capital goods (-2.6 percent), while production of intermediate goods (+0.4 percent), durable consumer goods (+0.8 percent) and non-durable consumer goods (+1.4 percent) rose. In the EU28, output dropped 0.8 percent as production of energy fell by 5.7 percent and capital goods by 1.4 percent, while production of intermediate goods rose by 0.1 percent, non-durable consumer goods by 1.4 percent and durable consumer goods by 1.5 percent.

Among Member States for which data are available, the largest decreases in industrial production were registered in the Netherlands (-9.4 percent), Estonia (-8.8 percent) and Germany (-2.3 percent), and the highest increases in Ireland (+18.5 percent), Hungary (+6.9 percent) and Malta (+5.7 percent).

On a monthly basis, industrial production decreased by 1 percent, as production of energy declined by 2.4 percent, capital goods by 1.9 percent and both intermediate goods and non-durable consumer goods by 0.3 percent, while production of durable consumer goods rose by 1.4 percent. In the EU28, output went down also by 1 percent mainly due to lower production of energy (-2.8 percent), capital goods (-1.6 percent) and intermediate goods (-0.4 percent), while production of non-durable consumer goods (+0.1 percent) and durable consumer goods (+1.5 percent) rose.

Among Member States for which data are available, the largest decreases in industrial production were registered in Ireland (-4.3 percent), Lithuania and Sweden (both -3.3 percent), and the highest increases in Denmark (+2.9 percent), the Netherlands (+1.5 percent) and Greece (+1.4 percent). 

Euro Area Industrial Output Posts Highest Drop Since August 2013


Eurostat | Joana Ferreira | joana.ferreira@tradingeconomics.com
2/12/2016 3:28:09 PM