Eurozone Industrial Output Growth Above Forecasts


Industrial output in the Euro Area rose 1.2 percent from a year earlier in October 2018, following a downwardly revised 0.8 percent growth in the previous month and easily beating market consensus of a 0.7 percent increase.

Production of capital goods posted the biggest increase (3.7 percent vs 2.2 percent in September), followed by non-durable consumer goods (1.2 percent vs 1.3 percent) while durable consumer goods output was unchanged (vs -2.3 percent in September). On the other hand, enery production slumped 3.1 percent, after a 1 percent fall in the previous month, and intermediate goods output shrank 0.4 percent, the same pace as in September.

In the EU28, industrial production went up 1.3 percent in October, following a 1 percent gain in September, as output increased for capital goods (3.3 percent vs 2.1 percent), non-durable consumer goods (1.5 percent vs 1.6 percent), durable consumer goods (1.2 percent vs -1.4 percent), and intermediate goods (0.1 percent, the same as in September). Energy output, however, continued to contract (-1.7 percent vs -0.5 percent).

Among Member States for which data are available, the highest increases in industrial production were registered in Lithuania (9.2 percent), Ireland (6.1 percent) and Poland (5 percent), and the largest decreases in Croatia (-2.4 percent), Latvia (-1.9 percent) and Greece (-1 percent).

On a monthly basis, industrial output grew 0.2 percent in October, reversing a 0.6 percent decline in September and matching market expectations. Output rose for: capital goods (1 percent vs -0.3 percent); durable consumer goods (0.4 percent vs unchanged); and intermediate goods (0.2 percent vs -0.3 percent). However, non-durable consumer goods output showed no growth (vs -1.6 percent in September) and energy production dropped 1.7 percent (-1.9 percent in September).

In the EU28, output rose 0.2 percent in October, following a decline of 0.4 percent in September, due to production of capital goods (0.8 percent vs -0.4 percent), durable consumer goods (0.6 percent vs -0.2 percent), intermediate goods (0.3 percent vs -0.2 percent) and non-durable consumer goods (0.3 percent vs -1.2 percent). On the other hand, energy output decreased 1.4 percent, after a 0.8 percent decline in the previous month.

Among Member States for which data are available, the largest increases in industrial production were registered in Lithuania (7.4 percent), Slovenia (2.5 percent), Hungary and Sweden (both 2.1 percent), and the highest decreases in Finland (-2.6 percent), Greece (-1.5 percent), Latvia (-1.2 percent) and Czechia (-1.1 percent).

Eurozone Industrial Output Growth Above Forecasts


Eurostat | Joana Ferreira | joana.ferreira@tradingeconomics.com
12/12/2018 10:23:39 AM