Eurozone Industrial Output Shrinks the Least in 4 Months


Industrial production in the Euro Area went down 0.3 percent from a year earlier in February of 2019, following a downwardly revised 0.7 percent decrease in the previous month and compared with market expectations of a 1 percent fall. It is the softest decline in industrial activity since November of 2018.

Output dropped at a softer pace for intermediate goods (-0.6 percent from -1.4 percent in January) and production rebounded for capital goods (0.5 percent from -2.5 percent) and durable consumer goods (0.2 percent from -0.9 percent). Meanwhile, output advanced faster for non-durable consumer goods (2.8 percent from 0.6 percent) while it fell for energy (-5.9 percent from 4.9 percent). 

Among Eurozone's largest economies, Germany's industrial output contracted the most in February (-2.0 percent from -2.8 percent), followed by Spain (-0.4 percent from 3.1 percent); while production increases were seen Italy (0.9 percent from -0.8 percent). 

In the EU28, industrial production increased 0.3 percent in February (from -0.2 percent in January), as output rebounded for intermediate goods (0.4 percent from -0.8 percent); capital goods (0.5 percent from -2.2 percent) and durable consumer goods (0.7 percent from -0.5 percent). Meanwhile, production rose faster for non-durable consumer goods (3.1 percent from 1.3 percent) while it fell for energy (-4.4 percent from 3.8 percent). 

On a monthly basis, industrial output edged down 0.2 percent from a month earlier in February of 2019, down from an upwardly revised 1.9 percent rise in January and compared with market expectations of a 0.6 percent fall. Output dropped for energy (-3 percent from 2.7 percent in January); durable consumer goods (-0.4 percent from 1.7 percent); capital goods (-0.4 percent from 1.4 percent) and intermediate goods (-0.1 percent from 0.6 percent). Meanwhile, production slowed for non-durable consumer goods (0.9 percent from 2.1 percent).

The biggest output declines were seen in Spain (-1.1 percent from 3.7 percent) and Germany (-0.4 percent from -0.2 percent) while gains were seen in Italy (0.8 percent from 1.9 percent) and France (0.4 percent from 1.3 percent).

In the EU28, output showed no growth in February (from 1.3 percent in January), as production was unchanged for durable consumer goods (from 1.5 percent in January). Also, output went up softer for intermediate goods (0.2 percent from 0.6 percent) and non-durable consumer goods (0.7 percent from 1.2 percent) while it dropped for energy (-2.2 percent from 1.4 percent) and capital goods (-0.2 percent from 1.2 percent). 

Eurozone Industrial Output Shrinks the Least in 4 Months


Eurostat | Agna Gabriel | agna.gabriel@tradingeconomics.com
4/16/2019 10:46:37 AM