Financial News: Eurozone Industrial Production Rises Less Than Forecast

Eurozone Industrial Production Rises Less Than Forecast

(RTTNews) - Eurozone industrial production recovered at a moderate pace in September largely driven by the rebound in energy output, official data showed on Thursday.

Industrial production grew at a slower-than-expected pace of 0.2 percent in September from August, Eurostat revealed. Output was forecast to grow 0.7 percent, reversing a 1.1 percent fall in August.

Within major industrial grouping, production of energy advanced 1.2 percent after a 0.2 percent fall.

At the same time, intermediate goods output gained 0.3 percent, reversing a 0.2 percent drop. Similarly, capital goods output rose 0.3 percent after a 1.9 percent drop.

The decline in durable consumer goods slowed to 0.5 percent from 1.7 percent. Meanwhile, the fall in non-durable consumer goods deepened to 2.6 percent from 0.1 percent.

Industrial production in the EU27 grew 0.8 percent month-on-month in September and expanded 2.0 percent from a year ago.

The highest monthly increases were recorded in Denmark, Sweden, and Greece. Meanwhile, Ireland, Luxembourg and Malta registered sharp decreases.

Manufacturers remain relatively optimistic about the months ahead, ING economist Bert Colijn said.

".fierce global competition, a strong euro and the impact of US tariffs still playing out make us cautious about expecting a significant short-term revival of the sector," the economist added.

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