Industrial production in the Euro Area fell 1.7 percent month-over-month in November of 2018, following a downwardly revised 0.1 percent gain in October and worse than market expectations of a 1.5 percent drop. It is the biggest decline in industrial output since February of 2016, amid declines in all segments: intermediate goods (-1.2 percent vs 0.1 percent in October); capital goods (-2.3 percent vs 0.7 percent); durables (-1.7 percent vs 0.5 percent); non-durables (-1 percent vs -0.1 percent) and energy (-0.6 percent vs -1.4 percent). Year-on-year, industrial output went down 3.3 percent. Industrial Production Mom in the Euro Area averaged 0.08 percent from 1990 until 2018, reaching an all time high of 3.30 percent in January of 2016 and a record low of -3.90 percent in November of 2008.
Industrial Production Mom in Euro Area is expected to be 0.30 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Industrial Production Mom in Euro Area to stand at 0.40 in 12 months time. In the long-term, the Euro Area Industrial Production MoM is projected to trend around 0.30 percent in 2020, according to our econometric models.