Eurozone Industry March 2019


Eurozone: Industrial output falls again in March

May 14, 2019

Industrial output contracted again in March, recording the fourth drop in five months. Industrial production decreased a seasonally-adjusted 0.3% over the previous month, a larger fall than February’s 0.1% contraction. The result matched market expectations.

The deterioration was driven by falling output of non-durable consumer goods. Looking at the individual economies for which data is available, 6 economies saw industrial production deteriorate in March, including France, Italy and Spain.

On an annual basis, industrial production contracted 0.6%, contrasting February’s flat growth. Annual average growth in industrial production slumped to 0.1% in March from February’s 0.6%, the worst reading since February 2014.

FocusEconomics Consensus Forecast panelists see industrial production expanding 0.6% 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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Eurozone Industry Chart

Euro Area Industry by country March 2019

Note: Month-on-month var. of seasonally-adjusted industrial production and annual average growth rate in %. Data for Austria, Belgium and Cyprus refers to February.
Source: Eurostat

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