Eurozone Industry

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Eurozone: Industrial production rebounds in July

September 12, 2014

In July, industrial production grew a seasonally-adjusted 1.0% over the previous month, according to data released by Eurostat on 12 September. The expansion—which contrasted a 0.3% contraction in June—exceeded the 0.7% increase market analysts had expected. With July’s result, the industrial sector started the third quarter on positive footing, as the result marks the first expansion following two consecutive contractions.

At a country level, Ireland (+11.3% month-on-month) and Estonia (+2.8% mom) were the region’s top performers. At the other end of the spectrum, Malta (-4.2% mom) and Greece (-1.7% mom) recorded the worst results. In the four major regional economies, output expanded in Germany (+1.9% mom) and France (+0.2% mom), whereas it was stable in Spain (+0.0% mom). Industrial production contracted in Italy (-1.0% mom).

On an annual basis, industrial production expanded 2.2%, which was up from the 0.2% expansion recorded in June and marked the strongest growth since November last year. Meanwhile, annual average growth in industrial production rose 1.0% in July, which was up from the 0.7% expansion recorded in the previous month.

FocusEconomics Consensus Forecast panelists see industrial production expanding 2.0% in 2014, which is up 0.1 percentage points from last month’s forecast. For 2015, panelists see industrial production growing 2.8%.


Author:, Head of Data Solutions

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Eurozone Industry Chart


Euro Industry by country July 2014

Note: Month-on-month var. of seasonally-adjusted industrial production and annual average growth rate in %.
Source: Eurostat


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