Euro Area Industry April 2022

Euro Area: Industrial production rebounds in April

June 16, 2022

Industrial output increased 0.4% over the previous month in seasonally-adjusted terms in April, bouncing back from March’s 1.4% decrease. April’s result reflected rises in the production of intermediate, capital and non-durable consumer goods and of energy, more than offsetting declining production of durable consumer goods.

Looking at the individual economies for which data is available, industrial output expanded in nine countries, while it contracted in nine other countries. Looking at the most important economies, production increased in Germany, Italy, the Netherlands and Spain, while it decreased in France.

On an annual basis, industrial production fell 2.0% in April, following March’s 0.5% drop. Lastly, annual average growth in industrial production moderated to 3.6% from March’s 6.5%.

Overall, our panelists see industrial production expanding 3.3% in 2022, which is up 0.1 percentage points from last month’s forecast. For 2023, panelists see industrial production growing 3.0%.

Author: Massimo Bassetti, Senior Economist

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