Eurozone Industrial Output Falls More Than Expected


Eurozone industrial production declined more than expected in July, data published by Eurostat showed on Wednesday.

Industrial output dropped 2.3 percent from June, when production was up 1.1 percent. The pace of decline was deeper than economists’ forecast of -1.0 percent.

The monthly fall was largely driven by the 4.2 percent decrease in capital goods output and a 1.6 percent fall in durable consumer goods production. In addition, production of intermediate goods was down 0.8 percent.

Partially offsetting these declines, non-durable consumer goods production climbed 1.2 percent and energy output grew 0.4 percent.

On a yearly basis, industrial production unexpectedly dropped 2.4 percent in July, reversing a 2.2 percent rise in June. Production was forecast to rise 0.4 percent.

In the EU27, industrial production fell 1.6 percent on month in July and by 0.8 percent from the same period last year.

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