Euro Area: Industrial production rebounds in August
Industrial output increased 0.6% in month-on-month seasonally-adjusted terms in August, which contrasted July’s 1.3% decrease. August’s reading was driven by rebounds in capital and durable consumer goods output. On the flipside, intermediate goods output and energy production swung to contraction, while non-durable consumer goods production growth was steady.
Looking at individual countries for which data is available, industrial output increased in 13 countries and contracted in six. Focusing on the largest economies, industrial output rose in Germany and Italy, while it fell in France, Spain and the Netherlands.
On an annual basis, factory output fell at a sharper rate of 5.1% in August (July: -2.2% yoy). Accordingly, the annual average variation in industrial production fell to minus 0.1% in August (July: +1.0%), signaling a worsening trend in the industrial sector.
On an annual basis, factory output fell at a sharper rate of 5.1% in August (July: -2.2% yoy). Accordingly, the annual average variation in industrial production fell to minus 0.1% in August (July: +1.0%), signaling a worsening trend in the industrial sector.