Eurozone's industrial production dropped 0.9 percent from a month earlier in December 2018, worse than market expectations of 0.4 percent fall and following a 1.7 percent contraction in November. Output fell for capital goods (-1.5 percent vs -2.7 percent), non-durable consumer goods (-1.5 percent vs -0.4 percent) and energy (-0.4 percent vs 0.2 percent). On the other hand, production of durable consumer goods rose 0.7 percent (vs -1.8 percent in November) while that of intermediate goods was unchanged (vs -1.2 percent in November). The biggest output declines were seen in Spain (-1.4 percent vs -1.9 percent) and Italy (-0.8 percent vs -1.7 percent), while production increased in France (0.8 percent vs -1.4 percent) and Germany (0.2 percent vs -1.4 percent). Industrial Production Mom in the Euro Area averaged 0.08 percent from 1990 until 2018, reaching an all time high of 3.30 percent in January of 2016 and a record low of -4 percent in November of 2008.
Industrial Production Mom in Euro Area is expected to be 0.30 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Industrial Production Mom in Euro Area to stand at 0.40 in 12 months time. In the long-term, the Euro Area Industrial Production MoM is projected to trend around 0.30 percent in 2020, according to our econometric models.