Euro Area Industrial Output Growth Slows For 2nd Month


Industrial production in the Euro Area increased 0.6 percent year-on-year in January of 2017, following an upwardly revised 2.5 percent rise in December and below market expectations of 0.9 percent. It is the lowest gain in six months as output slowed for intermediate and durable goods and fell for capital and non-durables.

Year-on-year, energy went up 6.9 percent, following a 7 percent rise in December; output also slowed for intermediate goods (0.8 percent compared to 3.6 percent) and durable goods (1.5 percent compared to 4.3 percent) and shrank for capital goods (-0.8 percent compared to 0.4 percent) and non-durable goods (-2.6 percent compared to 1.4 percent).

The highest increases were registered in Lithuania (8.4 percent compared to 6 percent in December), Greece (7.4 percent compared to 2.7 percent) and Estonia (6.7 percent compared to 9 percent), and the largest decreases in Ireland (-8.6 percent compared to 0.8 percent) and Luxembourg (-0.9 percent compared to 3 percent). Production in Germany rose 0.6 percent, following a flat reading in December while France slowed (0.4 percent compared to 1.2 percent) and Italy fell 0.5 percent (6.8 percent in December). 

In the EU 28, production rose 1.3 percent, easing from a 3.3 percent gain in December.  

On a monthly basis, industrial production in the Euro Area went up 0.9 percent, rebounding from a downwardly revised 1.2 percent fall in the previous period. Production recovered for capital goods (2.8 percent compared to -2.8 percent in December) and energy (1.9 percent compared to -1.2 percent) but fell for non-durable (-0.7 percent compared to -0.2 percent), intermediate (-0.4 percent compared to -0.1 percent) and durable goods (-0.4 percent compared to 3 percent).

The highest increases were registered in Ireland (3.4 percent compared to -9.6 percent in December), Germany (3.3 percent compared to -2.4 percent) and Greece (2.5 percent compared to 2.7 percent), and the largest decreases in Latvia (-2.8 percent compared to 0.2 percent), Italy (-2.3 percent compared to 1.4 percent) and Luxembourg (-2.3 percent compared to 5.7 percent). French output declined 0.3 percent (-1.1 percent). 

In the EU 28, production went up 0.5 percent, following a 0.7 percent drop in December. 

Euro Area Industrial Output Growth Slows For 2nd Month


Eurostat | Joana Taborda | joana.taborda@tradingeconomics.com
3/14/2017 11:06:34 AM