Eurozone Industrial Output Drops 0.5% YoY in July


Industrial production in the Euro Area fell 0.5 percent year-on-year in July 2016, following an upwardly revised 0.7 percent gain in June and better than market expectations of 0.7 percent drop. On a monthly basis, industrial output declined firmly by 1.1 percent, after rising by an upwardly revised 0.8 percent in the previous month and worse than market expectations of a 0.9 percent contraction.

Output decreased 0.5 percent compared with July 2015, due to lower production of energy (-5.9 percent) and capital goods (-1.2 percent), while production of intermediate goods rose by 0.3 percent, nondurable consumer goods by 1.3 percent and durable consumer goods by 2.6 percent. In the EU28, the decrease of 0.1 percent is due to production of energy falling by 4 percent and capital goods by 0.7 percent, while intermediate goods rose by 0.4 percent, non-durable consumer goods by 1.2 percent and durable consumer goods by 3.1 percent. 

Among Member States for which data are available, the largest decreases in industrial production were registered in Slovakia (-14.3 percent), the Czech Republic (-7.6 percent) and Malta (-3.9 percent), and the highest increases in Denmark and Slovenia (both +7.4 percent), Finland (+6.8 percent) and Ireland (+5 percent).

On a monthly basis, the decrease of 1.1 percent is due to production of capital goods falling by 1.7 percent, energy by 1.4 percent, durable consumer goods by 0.7 percent and intermediate goods by 0.5 percent, while production of non-durable consumer goods remained unchanged. In the EU28, the decrease of 1 percent is due to production of capital goods falling by 2.1 percent, durable consumer goods by 0.6 percent, intermediate goods by 0.4 percent and energy by 0.2 percent, while production of non-durable consumer goods rose by 0.2 percent.

Among Member States for which data are available, the largest decreases in industrial production were registered in Slovakia (-15.9 percent), the Czech Republic (-9.7 percent) and the Netherlands (-5.8 percent), and the highest increases in Estonia (+4.5 percent), Ireland (+3.7 percent) and Denmark (+2.3 percent).

Eurozone Industrial Output Drops 0.5% YoY in July


Eurostat | Joana Ferreira | joana.ferreira@tradingeconomics.com
9/14/2016 9:13:36 AM