Eurozone: Industry rebounds in April
June 12, 2014
In April, industrial production expanded a seasonally-adjusted 0.8% over the previous month according to data released by Eurostat on 12 June. The increase, which was a rebound from the 0.4% contraction recorded in March, exceeded market expectations of 0.4% growth and marked the strongest expansion in five months.
At a country level, Portugal (+6.7% month-on-month) and Netherlands (+3.5% mom) were the region’s top performers. At the other end of the spectrum, Malta (-6.0% mom) and Finland (-0.3% mom) recorded the worst results. Output expanded in all four major regional economies, with Spain recording the largest increase (+1.7% mom), followed by Italy (+0.7% mom), Germany (+0.4% mom) and France (+0.1% mom).
On an annual basis, industrial production expanded 1.4%, which marked an acceleration over the 0.2% expansion registered in March. Meanwhile, annual average growth in industrial production rose 0.4% in April, which was up from the 0.2% expansion recorded in the previous month.
Author: Armando Ciccarelli, Head of Data Solutions