Eurozone Industry April 2019

Eurozone

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.

FocusEconomics Consensus Forecast panelists see industrial production expanding 0.5% in 2019, which is unchanged from last month’s forecast. For 2020, panelists see industrial production growth at 1.4%.


Author: Angela Bouzanis, Lead Economist

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