Euro Area Industrial Production Disappoints


Euro Area industrial output contracted 1.9 percent year-on-year in August of 2014, following a revised 1.6 percent increase in July. It is the first annual drop in a year mainly due to a contraction in capital goods and energy production.

The decrease of 1.9 percent in industrial production in the euro area in August of 2014 compared with August 2013, is due to production of capital goods falling by 3.7 percent, energy by 3.5 percent, durable consumer goods by 2.9 percent and intermediate goods by 1.1 percent, while non-durable consumer goods increased by 1.4 percent. In the EU28, the decrease of 0.8 percent is due to production of energy falling by 3.3 percent and capital goods by 2.3 percent, while intermediate goods increased by 0.4 percent, durable consumer goods by 1.4 percent and non-durable consumer goods by 1.9 percent.

The largest decreases in industrial production were registered in Malta (-7.0 percent), Greece (-6.0 percent), Lithuania (-4.9 percent) and Croatia (-4.7 percent), and the highest increases in Ireland (+18.3 percent), Luxembourg (+5.6 percent), Slovenia (+4.6 percent) and Portugal (+3.9 percent).

On a monthly basis, industrial output fell 1.8 percent in August 2014 due to production of capital goods falling by 4.8 percent, intermediate goods by 0.7 percent and non-durable consumer goods by 0.2 percent, while durable consumer goods increased by 0.2 percent and energy by 1.2 percent. In the EU28, the decrease of 1.4 percent is due to production of capital goods falling by 4.3 percent and intermediate goods by 0.4 percent, while non-durable consumer goods increased by 0.2 percent, durable consumer goods by 0.6 percent and energy by 1.2 percent.

The largest decreases in industrial production were registered in Hungary (-5.8 percent), Germany (-4.3 percent) and Croatia (-4.1 percent), and the highest increases in Denmark (+6.9 percent), Portugal (+3.1 percent) and the Netherlands (+1.3 percent).

Euro Area Industrial Production Disappoints


Eurostat | Joana Taborda | joana.taborda@tradingeconomics.com
10/14/2014 10:16:49 AM