Eurozone Industrial Output Rises Less than Expected

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.

Eurozone industrial production rose by 0.4% month-over-month in February 2026, marking a recovery after two consecutive months of decline and surpassing market expectations of 0.3%. The rebound was driven by increases in non-durable consumer goods (2.6% vs. -5.0% in January), capital goods (1.0% vs. -1.7%), and intermediate goods (0.5% vs. -1.4%). However, energy output declined by 2.1% (compared to a 5.5% increase in January), and durable consumer goods continued to fall for the fourth straight month (-1.3% vs. -1.0%). Among the bloc’s largest economies, Italy recorded modest growth of 0.1%, while Spain’s output remained unchanged. In contrast, Germany, France, and the Netherlands experienced declines of 0.1%, 0.8%, and 1.4%, respectively. Year-over-year, industrial activity contracted by 0.6% in February, matching January’s pace and outperforming forecasts of a 1.0% drop.

Eurozone industrial production fell 1.5% month-on-month in January 2026, following a revised 0.6% decline in December and missing market expectations of a 0.6% increase. It was the sharpest monthly drop since April 2025, driven by declines across key sectors: non-durable consumer goods fell 6.0% (vs. 0.4% in December), capital goods dropped 2.3% (vs. -0.7%), durable consumer goods slipped 1.9% (vs. -0.1%), and intermediate goods fell 1.9% (vs. -0.2%). Energy output, however, rebounded 4.7% after two consecutive months of contraction. Among the Eurozone’s largest economies, output decreased in Germany (-1.3%), Italy (-0.6%) and Spain (-0.5%), but rose in France (0.5%) and was unchanged in the Netherlands (0.0%). On an annual basis, industrial production fell 1.2%, marking the first yearly decline in a year and falling short of analysts’ expectations for 1.4% growth.