Eurozone Industry June 2016

Eurozone

Eurozone: Industrial production rebounds in June

August 12, 2016

The industrial sector in the common-currency bloc rebounded in June after recording a pronounced fall in May. Industrial production expanded a seasonally-adjusted 0.6% over the previous month, contrasting May’s 1.2% drop. The reading overshot market analysts’ expectations of a 0.5% rise.

June’s reading reflected growth in production of capital and consumer goods. In addition, energy production recorded a less pronounced fall. On an annual basis, industrial production grew 0.4% in June (May: +0.3% year-on-year).

Among the Euro area economies for which data are available, the largest growth rates? in production were recorded in Ireland (+7.1% month-on-month), Greece (+3.8% mom) and Portugal (+2.1% mom). On the flipside, the largest drops were recorded in Estonia (-3.1% mom) and Cyprus (-2.9% mom; data refer to May). Regarding the region’s largest economies, output dropped nearly across the board, falling in France (-0.8% mom), Italy (-0.4% mom) and Spain (-0.1% mom). However, production expanded in Germany (+1.0% mom).

FocusEconomics Consensus Forecast panelists see industrial production expanding 1.7% in 2016, which is down 0.1 percentage points from last month’s forecast. For 2017, panelists see industrial production growing 1.5%.


Author: Angela Bouzanis, Senior Economist

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Euro Industry by country June 2016 0

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


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