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Financial News: Eurozone Industrial Output Falls For First Time In

Eurozone Industrial Output Falls For First Time In 3 Months

03/13/2024 - 06:43:00 (RTTNews)

(RTTNews) - Eurozone industrial production declined for the first time in three months in January largely reflecting the weakness in capital goods output, data from Eurostat showed on Wednesday.

Industrial output fell 3.2 percent on a monthly basis, reversing December's 1.6 percent increase. This was the first decrease in three months and also came in weaker than economists' forecast of 1.5 percent fall.

Production of intermediate goods and energy advanced 2.6 percent and 0.5 percent, respectively.

Meanwhile, capital goods, durable and non-durable consumer goods output contributed negatively.

Capital goods production posted the biggest fall of 14.5 percent. At the same time, durable consumer goods output slid 1.2 percent and non-durable consumer goods production eased 0.3 percent.

Industrial production in the EU27 fell 2.1 percent on month and decreased 5.7 percent from the previous year.

Among member states, Ireland, Estonia and Bulgaria reported the biggest decreases, while Slovenia, Greece and Denmark registered stronger growth.

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