Euro Area: Industrial production shrinks in May
Latest reading: Industrial production fell 0.2% on a seasonally adjusted month-on-month basis in May, following a 0.3% increase in the prior month.
Relative to the previous month’s data, readings in May softened for intermediate goods (-0.3% in seasonally adjusted month-on-month terms vs +0.8% in April), non-durable consumer goods (+0.8% vs +1.6% in April) and durable consumer goods (-1.1% vs +1.5% in April). In contrast, readings improved for capital goods (+0.3% vs -0.3% in April) and energy (+2.2% vs -0.2% in April).
In annual terms, industrial production was down 1.2% in May, following a 0.4% increase in the previous month.