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Financial News: Eurozone Industrial Output Unexpectedly Rises

Eurozone Industrial Output Unexpectedly Rises

05/15/2024 - 05:34:00 (RTTNews)

(RTTNews) - Eurozone industrial production unexpectedly expanded in March driven by the capital goods output, data from Eurostat revealed on Wednesday.

Industrial production posted a monthly growth of 0.6 percent, confounding expectations for a decline of 0.3 percent. Production had increased 1.0 percent in February.

All sub-sectors of production registered a fall except capital goods. Production of non-durable consumer goods declined 2.7 percent and that of durable consumer goods fell 1.1 percent.

Intermediate goods output was down 0.5 percent and energy output slid 0.9 percent. Meanwhile, capital goods production advanced 1.0 percent.

The annual fall in industrial production slowed to 1.0 percent from 6.3 percent in February. This was also slower than economists' forecast of 1.2 percent drop.

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