Eurozone Industrial Output Rebounds More Than Expected

Eurozone industrial production declined 0.2% month-over-month in May 2026, ending three consecutive months of growth and falling short of market expectations for a 0.2% rise. The drop was driven by lower output of durable consumer goods (-1.1%) and intermediate goods (-0.3%), which offset gains in energy (2.2%), non-durable consumer goods (0.8%), and capital goods (0.3%). Among the bloc’s largest economies, Ireland saw the sharpest decline (-5.2%), while France (-0.1%) and Italy (-0.3%) also recorded decreases. Germany (0.8%) and Spain (1.2%) posted growth. Year-over-year, industrial production fell 1.2%, following a 0.4% increase in April and missing expectations of a 0.5% contraction.

Eurozone industrial production rose by 0.1% month-over-month in April 2026, following an upwardly revised 0.4% increase in March but falling short of market expectations for a 0.3% gain. Non-durable consumer goods output rebounded strongly (1.7% vs. -4.6% in March), while durable consumer goods production rose for the first time in four months (1.0% vs. -0.9%). Intermediate goods output increased for a third consecutive month (0.8% vs. 0.9%). However, energy production declined for a third month (-0.4% vs. -1.8%), and capital goods output fell 0.5%, ending two straight months of gains above 1%. On an annual basis, industrial activity grew 0.3% in April, reversing March’s 2.8% contraction.

Eurozone industrial production increased 0.2% month-over-month in March 2026, after a downwardly revised 0.2% rise in February and below market expectations of 0.3%. Ouput rose further for intermediate goods (0.9% vs 0.2% in February), and capital goods (1.1% vs 0.8%). Also, production rebounded for durable consumer goods (0.5% vs -0.3%). On the other hand, production continued to fall for energy (-1.5% vs -2.1%) and non-durable consumer goods (-4.5% vs 1.5%). Across major economies, Germany recorded a 1.2% decline in industrial output, while France rose 1%, Italy gained 0.7%, and Spain advanced 2.4%. Year-over-year, industrial activity dropped 2.1% in March, more than forecasts of a 1.7% fall.