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Financial News: Eurozone Industrial Production Growth Eases In September

Eurozone Industrial Production Growth Eases In September

11/14/2022 - 06:27:00 (RTTNews)

(RTTNews) - Eurozone industrial production grew at a slower pace in September largely due to the fall in energy output, data published by Eurostat showed on Monday.

Industrial production gained only 0.9 percent from August, when output was up 2.0 percent. Nonetheless, the pace of increase was bigger than the 0.3 percent rise expected by economists.

There were decreases in production of energy, intermediate and durable consumer goods. Energy output fell 1.1 percent, while intermediate and durable consumer goods output fell 0.9 percent, each. By contrast, capital goods output moved up 1.5 percent and non-durable consumer goods output grew 3.6 percent.

Compared to the same period last year, industrial production advanced 4.9 percent, faster than the 2.8 percent rise in August. Economists had forecast output to grow again by 2.8 percent.

Industrial production of the EU27 climbed 0.9 percent on month, taking the annual increase to 5.7 percent in September.

Among member states of the EU, the highest monthly increases were reported in Ireland and Belgium. Meanwhile, the largest decreases were seen in Lithuania, Greece and Estonia.

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