Eurozone Industrial Output Rises Faster in August



Industrial production in the Euro Area increased 0.9 percent year-on-year in August of 2018, following a 0.3 percent rise in July and beating market expectations of a 0.2 percent drop. Production rose faster for non-durables but continued to fall for energy and durable goods.

Production went up for non-durables (3.1 percent compared to a flat reading in July) and capital goods (1.3 percent compared to 1.7 percent) but fell for intermediate goods (-0.4 percent compared to 0.1 percent), energy (-0.3 percent compared to -1.8 percent) and durables (-1.1 percent compared to -2.3 percent). 

In the EU28, total output went up 1.2 percent, higher than 1 percent in July. Rises were seen in production of intermediate goods (0.4 percent compared to 0.8 percent), capital goods (1.6 percent compared to 2 percent), durables (1.2 percent compared to 0.2 percent) and non-durables (2.8 percent compared to 0.8 percent) but continued to fall for energy (-0.7 percent, the same as in July). 

Among Member States for which data are available, the highest increases in industrial production were registered in Ireland (+15.1 percent), Slovenia (+7 percent) and Latvia (+6.4 percent). The largest decreases were observed in Denmark (-3.9 percent), Portugal (-3.3 percent) and Luxembourg (-2.6 percent). Production fell 0.5 percent in Germany and 0.8 percent in Italy but rose 1.7 percent in France.

On a monthly basis, industrial production in the Euro Area jumped 1 percent in August of 2018, following a downwardly revised 0.7 percent fall in July and beating market expectations of a 0.4 percent rise. It is the fist increase in industrial output in three months, as production rose faster for energy (1.9 percent compared to 0.7 percent in July) and capital goods (1.4 percent compared to 1 percent) and rebounded for intermediate goods (0.4 percent compared to -1 percent), durables (1.5 percent compared to -1.9 percent) and non-durables (1.4 percent compared to -1 percent).

Considering the EU 28, production went up 0.8 percent, recovering from a 0.6 percent fall in July. The output rebounded for intermediate goods (0.3 percent compared to -0.7 percent), durables (0.8 percent compared to -1.1 percent) and non-durables (1.1 percent compared to -1.2 percent) and continued to rise for energy (0.9 percent compared to 1 percent) and capital goods (1.2 percent compared to 0.6 percent). 

Among Member States for which data are available, the highest increases in industrial production were registered in Malta (+9.9 percent), Ireland (+8 percent) and Hungary (+3.8 percent). A decrease was observed in Denmark (-4.5 percent). Production in Germany was flat but rose in France (0.3 percent) and Italy (1.7 percent).

Eurozone Industrial Output Rises Faster in August


Eurostat | Joana Taborda | joana.taborda@tradingeconomics.com
10/12/2018 9:53:15 AM