Eurozone: Industrial production drops in June
July 12, 2017
The industrial sector in the common-currency bloc lost steam in June. Industrial production decreased a seasonally-adjusted 0.6% from the previous month, contrasting May’s revised 1.2% increase (previously reported: +1.3% month-on-month). The reading marked the worst result since December 2016.
June’s downturn reflected a sharp drop in capital goods production. In addition, output of consumer goods and intermediate goods also contracted. On an annual basis, industrial production expanded 2.6% (May: +3.9% year-on-year).
Among the Euro area economies for which data are available, the largest decreases were registered in Ireland (-7.5% mom) and Malta (-3.2% mom). On the flipside, the largest expansion was recorded in Luxembourg (+3.4% mom). Regarding the largest economies, output fell in in France (-1.2% mom) and Germany (-1.1% mom). However, industrial production was flat in Spain and rose in Italy (+1.1% mom).