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
| 2013 | 2014 | 2015 | 2016 | 2017 | |
|---|---|---|---|---|---|
| Industrial Production (annual variation in %) | -0.8 | 1.1 | 2.6 | 1.6 | 3.0 |
Eurozone Industry Chart
Source: Eurostat and FocusEconomics calculations.
Eurozone Facts
| Value | Change | Date | |
|---|---|---|---|
| Exchange Rate | 1.15 | 0.65 % | Oct 18 |
| Stock Market | 1,114 | -0.52 % | Oct 18 |
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Eurozone: Industrial output contracts in July
September 12, 2018
Industrial output dropped in July, falling a seasonally-adjusted 0.8% over the previous month.
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