Euro Area: Industrial production falls in September
Industrial output decreased 1.1% in month-on-month seasonally-adjusted terms in September, which contrasted August’s 0.6% increase. September’s reading was driven by downturns in non-durable and durable consumer goods output. Moreover, intermediate goods output and energy production contracted at faster paces, while capital goods production growth was steady.
Looking at individual countries for which data is available, industrial output decreased in 12 countries, expanded in six and remained unchanged in one. Focusing on the largest economies, industrial output fell in France, Germany, and the Netherlands, while it rose in Spain and remained unchanged in Italy.
On an annual basis, factory output fell at a sharper rate of 6.9% in September (August: -5.1% yoy). Accordingly, the annual average variation in industrial production fell to minus 0.8% in September (August: +0.3%), signaling a worsening trend in the industrial sector.