Eurozone Industrial Output Rises More Than Expected In May


Industrial production in the Euro Area increased by 4 percent year-on-year in May 2017, following a downwardly revised 1.2 percent gain in April and beating market expectations of 3.6 percent. Output rose the most for durable consumer goods, followed by capital goods, intermediate goods, non-durable consumer goods and energy.

Year-on-year, production grew at a faster pace for all categories: Durable consumer goods (7.5 percent from 3.6 percent in April); capital goods (5.5 percent from 0.3 percent); intermediate goods (3.8 percent from 3.1 percent); non-durable consumer goods (2.6 percent from 0.4 percent); and energy (2.2 percent from -0.7 percent).

In the EU28, industrial output also advanced by 4 percent, after rising by 1.2 percent in the previous month, due to higher production of durable consumer goods (6.8 percent from 3.1 percent in April); capital goods (6.1 percent from 1.4 percent); intermediate goods (4.9 percent from 3.9 percent); non-durable consumer goods (2.4 percent from a flat reading in April); and energy (1.1 percent from -1.4 percent).

Among EU Member States for which data are available, the highest increases in industrial production were registered in Romania (14.6 percent), Estonia (12.6 percent) and the Czech Republic (10.7 percent). Also, output grew in Germany (4.8 percent), France and Spain (both 3.4 percent), and Italy (2.8 percent). In contrast, decreases were observed in Malta and the United Kingdom (both -0.7 percent).

On a monthly basis, industrial output jumped 1.3 percent, boosted by higher production of capital goods (2.3 percent), durable consumer goods (1.8 percent), non-durable consumer goods (1.2 percent), energy (0.9 percent) and intermediate goods (0.3 percent).

In the EU28, the increase of 1.2 percent is due to production of capital goods rising by 2 percent, durable consumer goods by 1.8 percent, non-durable consumer goods by 1 percent, energy by 0.7 percent and intermediate goods by 0.6 percent.

Among EU Member States for which data are available, the highest increases in industrial production were registered in Lithuania (3.8 percent), Romania (3.5 percent) and the Czech Republic (3.3 percent), and the largest decreases in Portugal (-1 percent) and Malta (-0.9 percent).

Eurozone Industrial Output Rises More Than Expected In May


Eurostat | Joana Ferreira | joana.ferreira@tradingeconomics.com
7/12/2017 9:21:58 AM