Eurozone: Eurozone industrial output recovers slightly in April
June 12, 2015
Industrial production in the common-currency area rose a mild 0.1% in April over the previous month. Despite the timid increase, the reading was a rebound over the revised 0.4% contraction tallied in March (previously reported: -0.3% month-on-month) but fell far short of the 0.4% expansion the markets had expected. Compared to the same month last year, industrial production decelerated markedly. Growth fell from 2.1% in March to 0.8% in April.
According to Eurostat, the monthly increase was due to a notable expansion in the production of durable consumer goods (+1.0% mom) and an increase in output of capital goods (+0.7% mom). Non-durable consumer goods fell 0.8% over the previous month.
At a country level, Lithuania scored an increase in industrial output (+3.4% mom), along with an expansion in Portugal’s output (+2.1% mom) were overshadowed by contractions in the Malta (-3.8% mom), Greece (-2.3% mom) and the Netherlands (-1.5% mom).
Regarding the region’s four major economies, industrial production fell 1.0%, 0.3% and 0.1% over the previous month in France, Italy and Spain, respectively. Conversely, in Germany industrial production rose 0.8%.
Author: Ricardo Aceves, Senior Economist