Eurozone Industrial Output Rises at a Faster 3.0%



Industrial production in the Euro Area rose by 3.0 percent year-on-year in March of 2018, following a downwardly revised 2.6 percent increase in the previous month but missing market expectations of a 3.7 percent gain. Output grew faster in all categories, except intermediate goods which rose less. On a monthly basis, output went up 0.5 percent, reversing from an upwardly revised 0.9 percent fall in February and below market expectations of a 0.7 percent rise.

Year-on-year, output grew significantly for: energy (8.1 percent vs 4.8 percent in February); capital goods (2.7 percent vs 2.1 percent) and durable consumer goods (2.6 percent vs 0.9 percent). In contrast, production slowed for intermediate goods (1.6 percent vs 2.5 percent) and non-durable consumer goods (1.8 percent vs 2.0 percent).

In the EU28, industrial output advanced 3.0 percent (2.9 percent in February), as output went up at a faster pace for: energy (7.9 percent vs 4.1 percent); capital goods (3.5 percent vs 3.2 percent) and durable consumer goods (2.6 percent vs 1.5 percent). On the other hand, production eased for intermediate goods (1.4 percent vs 2.8 percent) and non-durable consumer goods (1.2 percent vs 1.9 percent).

Among Member States for which data are available, the biggest gains in industrial production were registered in Lithuania (11.5 percent vs 2.1 percent), Estonia (7.6 percent vs 3.0 percent) and Finland (7.0 percent vs 2.8 percent), and the largest decline in Ireland (-14.7 percent vs -3.2 percent).

On a monthly basis, output rose 0.5 percent in March, reversing from an upwardly revised 0.9 percent fall in February while below market expectations of a a 0.7 percent rise. It was the first monthly gain in industrial activity since November, as production rebounded for durable consumer goods (1.5 percent vs -1.6 percent) and non-durable consumer goods (1.1 percent vs -1.0 percent) and shrank less for intermediate goods (-0.1 percent vs -0.9 percent) and capital goods (-0.6 percent vs -3.5 percent). Meanwhile, output slowed markedly for energy (0.8 percent vs 6.7 percent).

In the EU28, industrial production went up 0.4 percent, following a 0.7 percent decrease in February, as output recovered for durable consumer goods (1.3 percent vs -1.3 percent) and non-durable consumer goods (0.8 percent vs -0.8 percent) and it fell less for intermediate goods (-0.3 percent vs -1.0 percent) and capital goods (-0.2 percent vs -2.6 percent). Meanwhile, energy production grew much less (1.3 percent vs 5.1 percent).

Among Member States for which data are available, the main gains were recorded in Estonia (4.1 percent vs -1.5 percent), Portugal (3.7 percent vs -2.3 percent), Finland (2.3 percent vs -1.5 percent) and Greece (2.6 percent vs -2.0 percent) and the most significant decreases in Ireland (-7.0 percent vs -9.8 percent), Croatia (-4.3 percent vs 2.1 percent) and Latvia (-3.5 percent vs 3.8 percent).


Eurozone Industrial Output Rises at a Faster 3.0%


Eurostat | Luisa Carvalho | luisa.carvalho@tradingeconomics.com
5/15/2018 10:00:14 AM