Eurozone Industry September 2016


Eurozone: Industrial production deteriorates in September

November 14, 2016

The industrial sector in the Eurozone swung back to contraction in September after expanding in August. Industrial production fell a seasonally-adjusted 0.8% from the previous month, contrasting August’s revised 1.8% rise (previously reported: +1.6% month-on-month). The reading was in line with market analysts’ expectations.

September’s result reflected contractions in the production of capital, intermediate and durable consumer goods. In addition, energy production decreased, though non-durable consumer goods expanded compared to the previous month. On an annual basis, industrial production rose 1.2% in September (August: +2.2% year-on-year).

Among the Euro area economies for which data are available, the largest growth rates in production were recorded in Ireland (+6.4% mom), Estonia (+5.2% mom) and Malta (+3.2% mom). On the flipside, the largest drops were recorded in Slovakia (-3.9% mom) and Germany (-1.9% mom). Regarding the rest of the region’s largest economies, output fell across the board, declining in France (-1.1% mom), Italy (-0.8% mom) and Spain (-1.2% mom).

FocusEconomics Consensus Forecast panelists see industrial production expanding 1.2% in 2016, which is unchanged from last month’s forecast. For 2017, panelists see industrial production growth stable at 1.2%, which is also unchanged from the previous month’s projection.

Author: Angela Bouzanis, Senior Economist

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Eurozone Industry Chart

Euro Industry by country September 2016

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

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