Euro Area Industrial Output Rises 0.6% YoY In October


Industrial production in the Euro Area increased 0.6 percent year-on-year in October of 2016, following an upwardly revised 1.3 percent gain in September and worse than market expectations of a 0.8 percent rise. On a monthly basis, production declined 0.1 percent, compared to forecasts of a 0.2 percent growth and mostly due to a fall in non-durable consumer goods.

Year-on-year, production went up at a slower pace for intermediate goods (0.6 percent from 1.4 percent in September) and capital goods (0.9 percent from 1.2 percent) and fell for non-durable consumer goods (-0.9 percent from 1.6 percent) and durable consumer goods (-1.4 percent from -0.4 percent). Meanwhile, energy output rose 2.2 percent (from 1.7 percent in September). 

Considering the EU28, output went up 0.5 percent, following 1.3 percent gain in September as output rose at a slower pace for intermediate goods (0.6 percent from 1.3 percent); capital goods (0.9 percent from 1.2 percent); and fell for durable consumer goods (-1.4 percent from -0.4 percent) and non-durable consumer goods (-0.9 percent from 1.6 percent) while production of energy accelerated (2.2 percent from 1.7 percent). 

Among Member States for which data are available, the highest increases in industrial production were registered in Greece (+7 percent), Latvia (+6.7 percent) and Slovenia (+6.6 percent), and the largest decreases in Ireland (-6.5 percent), Malta (-5.7 percent) and Luxembourg (-2.2 percent).

On a monthly basis, Eurozone industrial output fell 0.1 percent, following an upwardly revised 0.9 percent drop in September and below market expectations of a 0.2 percent growth. Production went down for non-durable consumer goods (-1.5 percent from 0.5 percent) and intermediate goods (-0.5 percent from -0.7 percent) while rose for durable consumer goods (1.5 percent from 5.5 percent); capital goods (1 percent from -2.1 percent); and energy (0.8 percent, after being flat in September). 

In the EU28, the decrease of 0.3 percent was due to production of intermediate goods falling by 0.5 percent and capital goods by 0.7 percent. Output rose for energy by 0.1 percent; durable consumer goods by 1.1 percent and capital goods by 0.3 percent. Among Member States for which data are available, the largest decreases in industrial production were registered in Ireland (-3.6 percent), Sweden (-2.9 percent) and Luxembourg (-2.2 percent), and the highest increases in Denmark (+4.7 percent), Greece (+4.5 percent), Lithuania (+2.7 percent) and Latvia (+2.5 percent).

Euro Area Industrial Output Rises 0.6% YoY In October


Eurostat | Yekaterina Guchshina | yekaterina@tradingeconomics.com
12/14/2016 11:25:28 AM