Euro Area Industrial Output Below Expectations


Industrial production in the Euro Area increased 1.2 percent year-on-year in February of 2017, following a downwardly revised 0.2 percent rise in January while below market expectations of 2 percent.

Year-on-year,output rose at a faster pace for intermediate goods (2 percent from 0.7 percent in January) and durable goods (2 percent from 1.1 percent), and rebounded for capital goods (1.2 percent from -1.7 percent). Meanwhile, production of energy went up at a slower 2.4 percent (7.8 percent in January) and fell for non-durable goods (-2.4 percent compared to -3 percent).

The highest increases in industrial production were registered in Greece (11.2 percent from 7.3 percent), Latvia (10.6 percent from 4.7 percent) and Estonia (9 percent from 6.9 percent). Meanwhile, decreases were observed in Ireland (-10 percent from -8.5 percent) and France (-0.8 percent from 0.5 percent)

In the EU 28, production rose 2.1 percent, accelerating from a 1.2 percent gain in January.  

On a monthly basis, industrial output in the Euro Area fell 0.3 percent, following from a downwardly revised 0.3 percent rise in the previous period and below market expectations of 0.1 percent gain. Production dropped for energy (-4.7 percent compared to 2 percent in January) and non-durable (-1.1 percent, at the same pace as in January) and rose at a slower pace for capital goods (0.9 percent from 1.6 percent). In contrast, output of intermediate goods rebounded (1 percent from -0.8 percent).

The largest decreases in industrial production were registered in Ireland (-15.5 percent from 3.4 percent), France (-1.6 percent from -0.2 percent) and Croatia (-1.5 percent from -6.8 percent). In contrast, the highest increases were in Bulgaria (3.6 percent from -3.1 percent) and Slovenia (3.6 percent from -2.5 percent)

In the EU 28, production went down 0.2 percent, following a 0.3 percent rise in January. 

Euro Area Industrial Output Below Expectations


Eurostat | Yekaterina Guchshina | yekaterina@tradingeconomics.com
4/11/2017 9:24:04 AM