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Financial News: Eurozone Industrial Production Rebounds In May

Eurozone Industrial Production Rebounds In May

07/14/2020 - 05:49:00 (RTTNews)

(RTTNews) - Eurozone industrial production rebounded in May as most of the factories reopened in member countries after the easing of coronavirus containment measures, data from Eurostat showed Tuesday.

Industrial production grew 12.4 percent on month, in contrast to an 18.2 percent decrease in April. Nonetheless, this was slower than the expected growth of 15 percent.

On a yearly basis, industrial production declined 20.9 percent versus a 28.7 percent fall in April. Output was expected to fall 20 percent.

Among components, durable consumer goods production surged 54.2 percent and capital goods output advanced 25.4 percent. Intermediate goods production climbed 10 percent.

Energy and non-durable consumer goods production increased only 2.3 percent and 2.8 percent, respectively.

In EU27, industrial production grew 11.4 percent on month but declined 20.5 percent from the same period last year.

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