Industrial production in the Euro Area declined 0.5 percent from a year earlier in May 2019, following a 0.4 percent contraction in the previous month and compared to market expectations of 1.6 percent drop. This was the seventh consecutive month in which there was no increase in industrial production, due to falls in intermediate and capital goods output.
Production fell for intermediate (-2.6 percent vs -1.3 percent) and capital goods (-0.7 percent vs -1.3 percent), but rose for non-durable consumer goods (3.1 percent vs 2.1 percent), durable consumer goods (0.4 percent vs -1 percent), and energy (0.8 percent vs unchanged).
Among Eurozone's largest economies, Germany's industrial output contracted the most (-4.3 percent vs -3.6 percent), followed by Italy (-0.7 percent vs -1.5 percent). On the other hand, output growth was seen in France (3.7 percent vs 1 percent) and Spain (1.3 percent vs 1.4 percent).
In the EU28, industrial output rose 0.4 percent in May (vs unchanged in April), boosted by production of non-durables (2.8 percent vs 3 percent), energy (1.7 percent vs -0.6 percent), and durable consumer goods (1.2 percent vs -0.1 percent). By contrast, intermediate goods output fell 1.4 percent (vs -0.1 percent in April) and capital goods production edged 0.1 percent lower (vs -1.6 percent in April).
7/12/2019 9:25:36 AM