Euro Area Industrial Output Stalls in June

Industrial production in the Euro Area was unchanged in June 2026, after a 0.3% rise in May and compared with market expectations of a 0.1% decrease. Output rebounded for durable consumer goods (0.3% vs -1.3% in May) and continued to increase for non-durable consumer (3% vs 3.3%) and energy (1.5% vs 2.6%). On the other hand, production fell for intermediate goods (-0.8% vs -0.2%) and capital goods (-1.4% vs 0.5%). Among the bloc’s largest economies, industrial production rose 0.2% in Germany, was unchanged in France and declined 0.7% in Spain. Year-over-year, industrial production increased 0.1%, beating market expectations for a 0.8% fall.

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.