Eurozone: Industrial production contracts in September
November 14, 2017
Activity in the industrial sector plunged in September, recording the largest contraction since December 2016. Industrial production decreased a seasonally-adjusted 0.6% from the previous month, contrasting August’s 1.4% increase. The result undershot market analysts’ expectations of a 0.4% fall.
September’s result largely reflected contracting output of capital, energy and durable consumer goods. On an annual basis, industrial production expanded 3.3% (August: +3.9% year-on-year).
Among the Euro area economies, the largest drops were registered in Greece (-3.6% mom) and Portugal (-6.7% month-on-month). On the flipside, the fastest growth rates were recorded in Estonia (+2.3% mom) and the Netherlands (+2.3% mom).