Eurozone: Industrial output drops for third month running in April
June 13, 2019
Industrial output contracted again in April, recording the third drop in a row. Industrial production decreased a seasonally-adjusted 0.5% over the previous month, a larger fall than March’s revised 0.4% contraction (previously reported: -0.3% month-on-month). The result matched market expectations.
The deterioration was driven by falling output of intermediate, capital and durable consumer goods. Looking at the individual economies for which data is available, 9 economies saw industrial production contract in April, including a notable fall in regional heavyweight Germany.
On an annual basis, industrial production contracted 0.4%, a smaller drop then March’s 0.7% decrease. Annual average variation in industrial production slumped to minus 0.1% in April from March’s plus 0.1%, marking a multi-year low.