Industry in Eurozone
Eurozone - Industry
Industrial output contracts for second consecutive month in December
Industrial output fell again in December, contracting a seasonally-adjusted 0.9% over the previous month. The result followed November’s stark 1.7% decrease and undershot market expectations of a softer 0.4% drop. Industrial production figures have been notably weak since Q3 2018, fueling a broader downturn in the Eurozone economy.
The contraction was driven by shrinking production of capital good and non-durable consumer goods. In addition, energy output all fell mildly, while production of intermediate goods was flat in December.
Looking at the individual economies for which data is available, 9 economies saw industrial production drop in December, including Italy and Spain. However, industrial production rebounded in France and Germany.
On an annual basis, industrial production contracted 4.2%--the worst reading since November 2012. In 2018, industrial production grew 1.1%, a stark deceleration from 2017’s 3.0%.
Eurozone Industrial Production Forecast
FocusEconomics Consensus Forecast panelists see industrial production expanding 1.3% in 2019, which is unchanged from last month’s forecast. For 2020, panelists see industrial production growth at 1.4%.
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||1.13||0.65 %||Feb 14|
|Stock Market||1,102||-0.52 %||Feb 14|
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February 14, 2019
A second flash estimate confirmed weak growth dynamics in the Eurozone economy at the end of 2018.
February 13, 2019
Industrial output fell again in December, contracting a seasonally-adjusted 0.9% over the previous month.
February 1, 2019
According to a preliminary release by Eurostat on 1 February, harmonized inflation is expected be 1.4% in January, sitting below the European Central Bank’s target rate of near, but under, 2.0%.
February 1, 2019
According to data released by Eurostat, labor market conditions in the common currency bloc were broadly stable in December.
January 31, 2019
The Eurozone economy remained weak in the final quarter of last year, failing to gain ground after the third quarter’s slowdown.