Euro Area: Industrial production swings to expansion in March

Euro Area Industry March 2021

Euro Area: Industrial production swings to expansion in March

Industrial output inched up a seasonally-adjusted 0.1% over the previous month in March, contrasting February’s 1.2% decline. March’s increase reflected turnarounds in the production of non-durable consumer goods, energy and intermediate goods, as well as a softer contraction in the production of capital goods.

Looking at the individual economies for which data is available, industrial output expanded in seven countries, while it contracted in nine countries. Moreover, production grew in France and Germany, while it declined in Italy and Spain.

On an annual basis, industrial production jumped 10.9% in March, as it benefited from a low base effect as March 2020 was the first month in which the pandemic hit, and contrasting February’s 1.8% drop. Lastly, annual average variation in industrial production improved to minus 6.3% from February’s minus 8.4%.

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

“Supply chain distortions over the first months of the year could still lead to delays and a more erratic path of industry on its return to normal. However, past experience has shown that any of these supply chain distortions will only delay rather than derail the rebound of industrial production in the eurozone. March was only a short resting period in the starting blocks. In April, the race to recovery will be on.”

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