Euro Area Industrial Output Rises More Than Expected


Industrial production in the Euro Area increased 1.4 percent year-on-year in April of 2017, following an upwardly revised 2.2 percent rise in March and above market expectations of 1.3 percent. On a monthly basis, production rose 0.5 percent boosted by energy. It is the biggest gain in five months and in line with forecasts.

Year-on-year, production rose at a slower pace for durable consumer goods (4.6 percent from 5.7 percent in March); intermediate goods (3 percent from 3.6 percent); capital goods (1 percent from 3.7 percent) and non-durable consumer goods (0.6 percent from 1.6 percent). On the other hand, energy output shrank less (-0.1 percent from -5.1 percent).  

In the EU 28, production also went up 1.4 percent, slowing from a 2.7 percent rise in March. Production rose less for intermediate goods (3.8 percent from 4 percent in March); durable consumer goods (3.7 percent from 5.7 percent); capital goods (1.7 percent from 4.4 percent) and non-durable consumer goods (0.2 percent from 1.9 percent). Production of energy fell less (-0.9 percent from -4.4 percent). 

Among Member States for which data are available, the highest increases in industrial production were registered in Latvia (9.6 percent from 10 percent), Estonia (9.5 percent from 15 percent) and Slovenia (7.8 percent from 9.3 percent) and the largest decreases in Luxembourg (-3.3 percent from +1.1 percent) and Slovakia (-3.2 percent from +13.2 percent). Production also slowed in France (0.6 percent from 2.5 percent) and Italy (1 percent from 2.9 percent) but went up faster in Germany (2.4 percent from 1.9 percent). 

On a monthly basis, energy production in the Euro Area jumped 4.7 percent, following a 4 percent decline in March. In contrast, output slowed for intermediate goods (0.1 percent from 0.6 percent in March); durable goods (0.6 percent from 2.1 percent) and non-durable goods (0.2 percent from 1.7 percent) and fell 0.7 percent for capital goods (-0.7 percent from +0.9 percent). 

In the EU 28, production edged up 0.2 percent, below 0.3 percent in March. Energy jumped 3.6 percent (-3.3 percent in March) while output eased for non-durable goods (0.2 percent from 1.6 percent); was flat for intermediate goods (0.7 percent) and fell for capital goods (-0.8 percent from +0.7 percent) and durable goods (-0.1 percent from +1.8 percent). 

Among Member States for which data are available, the highest increases in industrial production were registered in Ireland (7.7 percent from 2 percent), Malta (2.9 percent from -3.5 percent) and Portugal (2 percent from -0.5 percent), and the largest decreases in Slovakia (-10.9 percent from +10.4 percent), Luxembourg (-3.1 percent from +3 percent) and Greece (-2.9 percent from -1 percent). Production also jumped 1 percent in Germany (-0.3 percent in March) but shrank in France (-0.6 percent from +2.4 percent) and Italy (-0.4 percent from +0.4 percent). 

Euro Area Industrial Output Rises More Than Expected


Eurostat | Joana Taborda | joana.taborda@tradingeconomics.com
6/14/2017 9:43:28 AM