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Financial News: Eurozone Industrial Production Falls Less Than Expected In

Eurozone Industrial Production Falls Less Than Expected In September

11/13/2019 - 05:25:00 (RTTNews)

(RTTNews) - Eurozone's industrial production decreased at the slowest pace in four months in September, which was also less severe than the fall economists had predicted.

Industrial production decreased 1.7 percent year-on-year following a 2.8 percent slump in August. Economists had forecast a 2.3 percent decline.

The latest drop in industrial production was the slowest since May, when output fell 0.8 percent.

Production decreased across all categories of goods except non-durable consumer goods which logged an increase. The biggest fall of 3.9 percent was logged in the production of intermediate goods and the pace of decline was faster than the previous month.

Energy output shrunk at a slower rate of 2.6 percent and production of capital goods also decreased at a slower pace of 1.4 percent.

Manufacture of durable consumer goods decreased at a faster rate of 0.8 percent, while production of non-durable consumer goods rebounded with a 1.6 percent increase.

Among the euro area countries, the biggest decrease was seen in Germany, followed by Portugal and Estonia, while the worst declines were observed in Lithuania and Latvia.

Compared to the previous month, industrial production edged up 0.1 percent after a 0.4 percent gain in August. Economists had forecast a 0.3 percent fall.

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