Industry in Eurozone
Eurozone - Industry
Industrial output records sharpest drop in over 3 years
Industrial output plunged in June, recording the sharpest fall since February 2016. Industrial production decreased a seasonally-adjusted 1.6% over the previous month, contrasting May’s revised 0.8% expansion (previously reported: +0.9% month-on-month). The result slightly undershot market expectations of a 1.5% fall.
The downturn was broad-based with all subcomponents deteriorating from the previous month. Looking at the individual economies for which data is available, 10 economies saw industrial production drop in June, including Germany and France.
On an annual basis, industrial production fell 2.6%, a larger drop then May’s 0.8% decrease and marking a six-month low. Annual average variation in industrial production slumped to minus 0.8% in June from May’s minus 0.4%.
FocusEconomics Consensus Forecast panelists see industrial production expanding 0.1% in 2019, which is unchanged from last month’s forecast. For 2020, panelists see industrial production growth at 1.3%.
Eurozone - Industry Data
|Industrial Production (annual variation in %)||-0.8||1.0||2.6||1.6||2.9|
5 years of economic forecasts for more than 30 economic indicators.
Eurozone Industry Chart
Source: Eurostat and FocusEconomics calculations.
|Exchange Rate||1.10||0.65 %||Sep 04|
|Stock Market||1,175||-0.52 %||Sep 04|
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