Eurozone Industrial Output Falls More than Anticipated
Industrial production in the Euro Area went down 3.3 percent year-on-year in November of 2018, following a 1.2 percent rise in October and worse than market expectations of a 2.3 percent drop. It is the first annual fall in industrial output since January of 2017 and the biggest since November of 2012.
Declines were seen in production of energy (-5.2 percent compared to -3 percent in October); capital goods (-4.5 percent compared to +3.7 percent); durable consumer goods (-3.5 percent compared to +0.3 percent); intermediate goods (-3 percent compared to -0.1 percent); and non-durable consumer goods (-0.1 percent compared to +0.8 percent).
In the EU28, industrial production fell by 2.2 percent, after a 1.3 percent rise in October. Output went down for energy (-4.3 percent compared to -2.1 percent); capital goods (-3 percent compared to +3.2 percent); intermediate goods (-2.2 percent compared to +0.5 percent); durable consumer goods (-1.4 percent compared to +1.3 percent) while production of non-durable consumer goods rose by 0.7 percent (+1.5 percent in October). Among Member States for which data are available, the largest decreases in industrial production were observed in Ireland (-9.1 percent), Germany (-5.1 percent), Portugal (-2.9 percent), Spain (-2.8 percent), Italy (-2.6 percent) and France (-1.9 percent). The highest increases were registered in Estonia (+7.9 percent), Poland (+5.3 percent) and Hungary (+3.5 percent).
On a monthly basis, industrial production in the Euro Area fell 1.7 percent 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). Considering the EU28, production went down 1.3 percent after a 0.1 percent gain in October.
1/14/2019 11:40:28 AM