Eurozone Industrial Output Rises Faster than Expected


Industrial production in the Euro Area increased by 3.7 percent year-on-year in October 2017, beating market expectations of 3.5 percent and following an upwardly revised 3.4 percent gain in the previous month. Output rose at a faster pace for intermediate and non-durable consumer goods. Among Eurozone's largest economies, industrial production grew faster in France, Italy and Spain.

Year-on-year, production grew at a faster pace for: intermediate goods (5 percent from 4.6 percent in September); and non-durable consumer goods (5.7 percent from 1.5 percent). Meanwhile, production of durable consumer goods rose at a slower 3.7 percent after an increase of 7.5 percent in September; and capital goods output went up 3.3 percent, easing from a 4.4 percent gain. Energy output contracted 2.2 percent, following a fall of 0.8 percent in the previous month.

In the EU28, industrial output advanced by 4.2 percent, following a 3.6 percent gain in September, driven by higher production of intermediate goods (5.3 percent from 4.6 percent); and non-durable consumer goods (4.7 percent from 1.7 percent). On the other hand, output rose at softer rate for both durable consumer goods (3.5 percent from 7 percent in September) and capital goods (4.2 percent from 4.7 percent), while production of energy shrank (-0.3 percent from 0.5 percent).

Among EU Member States for which data are available, the highest increases in industrial production were registered in Ireland (13.4 percent), Slovenia (10.7 percent), Poland (10 percent) and Romania (9.1 percent). Also, output grew in France (5.7 percent), Spain (4.2 percent), Italy (3.1 percent) and Germany (2.5 percent).

On a monthly basis, industrial output increased 0.2 percent, above market expectations of a flat reading, due to rising production of non-durable consumer goods (0.5 percent) and energy (0.1 percent). Output fell for durable consumer goods (-1.9 percent) and capital goods (-0.3 percent). 

In the EU28, output grew 0.3 percent, due to production of non-durable consumer goods rising by 0.7 percent and intermediate goods by 0.2 percent, while production of both energy and capital goods fell by 0.2 percent and durable consumer goods by 1.7 percent.

Among EU Member States for which data are available, the largest increases in industrial production were registered in Ireland (10.6 percent), Denmark (2.8 percent) and Croatia (2.7 percent). Also, output rose in France (1.8 percent), Spain (0.6 percent) and Italy (0.5 percent). The highest decreases were recorded in Malta (-6.1 percent), Portugal (-2.3 percent) and the Netherlands (-1.8 percent) and Germany (-1.4 percent).

Eurozone Industrial Output Rises Faster than Expected


Eurostat | Joana Ferreira | joana.ferreira@tradingeconomics.com
12/13/2017 10:22:00 AM