Industry in Eurozone
Eurozone - Industry
Industrial output contracts in July
Industrial output dropped in July, falling a seasonally-adjusted 0.8% over the previous month. The result was in line with June’s revised 0.8% decrease (previously reported: -0.7% month-on-month). July’s fall was worse than the 0.5% decrease expected by market analysts and marked another weak print for the Eurozone economy, which has experienced a raft of soft economic data in recent months. The downturn came on the back of contractions in the production of durable, non-durable and intermediate goods.
On an annual basis, industrial production contracted for the first time in a year and a half, falling 0.1% in July and contrasting June’s 2.3% reading. Meanwhile, annual average industrial production growth fell to 3.1% from 3.4%.
Among the Euro area economies for which data is available, Malta saw the largest drop in industrial output in July, contracting 6.3% over the previous month. Conversely, Ireland and Latvia recorded the largest expansions, growing at 2.8% and 1.8% respectively. Meanwhile, industrial output fell 1.8% in both Germany and Italy, fell 0.3% in Spain, but rose 0.7% in France.
FocusEconomics Consensus Forecast panelists see industrial production expanding 2.3% in 2018, which is unchanged from last month’s forecast. For 2019, panelists see industrial production growth at 2.1%.
Eurozone - Industry Data
|Industrial Production (annual variation in %)||-0.8||1.1||2.6||1.6||3.0|
5 years of economic forecasts for more than 30 economic indicators.
Eurozone Industry Chart
Source: Eurostat and FocusEconomics calculations.
|Exchange Rate||1.15||0.65 %||Oct 18|
|Stock Market||1,114||-0.52 %||Oct 18|
Get a sample report showing all the data and analysis covered in our Regional, Country and Commodities reports.
Start Your Free Trial
Start working with the reports used by the world’s major financial institutions, multinational enterprises & government agencies now. Click on the button below to get started.
October 17, 2018
According to complete data released by Eurostat on 17 October, harmonized inflation came in at 2.1% in September, matching the preliminary estimate.
September 27, 2018
Economic sentiment in the Eurozone continued to fall in September, maintaining this year’s downward trend.
September 17, 2018
According to complete data released by Eurostat on 17 September, harmonized inflation came in at 2.0% in August.
September 13, 2018
The European Central Bank (ECB) delivered no surprises at its 13 September monetary policy meeting, leaving its main interest rates unchanged and reaffirming its commitment to winding down asset purchases related to its quantitative easing (QE) program by the end of the year.
September 12, 2018
Industrial output dropped in July, falling a seasonally-adjusted 0.8% over the previous month.