Euro Area: Industrial production eases in June

Euro Area Industry June 2020

Euro Area: Industrial production eases in June

Industrial output expanded a seasonally-adjusted 9.1% over the previous month in June, following May’s 12.3% increase which had marked the strongest jump on record.

June’s easing reflected a broad-based moderation in output across the major categories, with production of both capital and durable consumer goods slowing the most. Meanwhile, non-durable consumer goods output picked up from May.

Looking at the individual economies for which data is available, industrial production expanded in 14 countries, while it dropped in two countries. Heavyweights Germany, France, Italy and Spain recorded significant increases again, though production eased in all except Germany where it picked up. At the same time, output dropped in Belgium and Finland.

On an annual basis, industrial production plunged 12.3% in June, following May’s 20.4% dive. Lastly, annual average variation in industrial production fell to minus 7.5% from May’s minus 6.7%.

Commenting on the release, Bert Colijn, Eurozone senior economist at ING, stated:

“Whether the V (-shaped recovery) will be completed in the summer months remains the question. We expect that it will fall short due to a lack of demand in the aftermath of the crisis, supply chain disruptions and even a possible flareup of the trade war. We now have to ask at what point will the mechanical recovery level off, giving a better idea of the lasting damage of the coronavirus crisis.”

Free sample report

Access essential information in the shortest time possible. FocusEconomics provide hundreds of consensus forecast reports from the most reputable economic research authorities in the world.
Close Left Media Arrows Left Media Circles Right Media Arrows Right Media Circles Arrow Quote Wave Address Email Telephone Man in front of screen with line chart Document with bar chart and magnifying glass Application window with bar chart Target with arrow Line Chart Stopwatch Globe with arrows Document with bar chart in front of screen Bar chart with magnifying glass and dollar sign Lightbulb Document with bookmark Laptop with download icon Calendar Icon Nav Menu Arrow Arrow Right Long Icon Arrow Right Icon Chevron Right Icon Chevron Left Icon Briefcase Icon Linkedin In Icon Full Linkedin Icon Filter Facebook Linkedin Twitter Pinterest