Euro Area: Industrial output falls at sharpest pace since April 2020 in March
Industrial output decreased 1.8% in month-on-month seasonally-adjusted terms in March, which was a deterioration from February’s 0.5% increase. March’s figure marked the worst reading since April 2020. Looking at the details of the release, intermediate goods production gained traction in March, and capital goods output also accelerated. Meanwhile, energy production declined at a softer pace. Lastly, durable consumer goods output lost steam, while non-durable consumer goods production rose.
On an annual basis, factory output fell 0.8% in March, contrasting February’s 1.7% expansion. Meanwhile, annual average industrial production growth fell to 6.5% in March (February: +7.7%), signaling a worsening trend in the industrial sector.