Euro Area: Industrial production falls at softer pace in October

Euro Area Industrial production October 2023

Euro Area: Industrial production falls at softer pace in October

Industrial output decreased 0.7% in month-on-month seasonally adjusted terms in october, which followed September’s 1.0% fall. October’s reading was driven by a downturn in capital goods output. Moreover, intermediate goods output contracted at a faster pace. On the flipside, production of energy and durable consumer goods rebounded, while non-durable goods production shrank at a softer pace.

Looking at individual countries for which data is available, industrial output decreased in 11 countries, expanded in eight and remained unchanged in one. Focusing on the largest economies, industrial output fell in France, Italy, Germany, the Netherlands and Spain.

On an annual basis, factory output fell at a softer rate of 6.6% in October (September: -6..8% yoy).

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