Eurozone Industry April 2017


Eurozone: Industrial production accelerates in April

June 14, 2017

The industrial sector in the common-currency bloc gained steam in April. Industrial production increased a seasonally-adjusted 0.5% from the previous month, above March’s revised 0.2% increase (previously reported: -0.2% month-on-month). The reading matched market analysts’ expectations.

April’s pick up reflected a sharp rebound in energy production. In contrast, output of capital goods contracted while production of intermediate and consumer goods lost steam. On an annual basis, industrial production expanded 1.4% in April (March: +2.2% year-on-year).

Among the Euro area economies for which data are available, the largest increases were recorded in Ireland (+7.7% mom) and Malta (+2.9% mom). On the flipside, the largest contractions were recorded in Luxembourg (-3.1% mom) and Slovakia (-10.9% mom). Regarding the largest economies, output rose in Germany (+1.0% mom) but fell in France (-0.6% mom), Italy (-0.4% mom) and Spain (-0.1% mom).

FocusEconomics Consensus Forecast panelists see industrial production expanding 1.8% in 2017, which is unchanged from last month’s forecast. For 2018, panelists see industrial production growth at 1.9%.

Author: Angela Bouzanis, Senior Economist

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Eurozone Industry Chart

Euro Industry by country April 2017

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

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