Eurozone: Eurozone industrial production expands notably in February
April 14, 2015
In February, industrial production in the Euro area expanded a seasonally-adjusted 1.1% over the previous month, representing the largest monthly gain in 10 months. The reading marked a notable improvement compared to the revised 0.3% contraction (previously reported: +0.1% month-on-month) and came in above the 0.4% rise the markets had expected.
The substantial increase was mainly the result of a surge in the manufacturing of non-durable goods. At a country level, industrial production in Ireland recorded a notable expansion in February (+16.3% mom), followed by Lithuania (+6.1% mom). Conversely, the region’s worst performers were Malta (-1.3% mom) and Portugal (-0.5% mom). Regarding the region’s four major economies, in France industrial production grew 0.2% over the previous month, while in both Germany and Italy it expanded 0.6%. In Spain, industrial production accelerated from a flat reading in January to a 0.7% expansion in February.
Author: Ricardo Aceves, Senior Economist