Eurozone industrial production edges higher but misses estimates

(Sharecast News) - Industrial production across the eurozone rose slightly less than expected in July, only partially offsetting the previous month's decline, according figures out on Tuesday from Eurostat. Seasonally adjusted industrial production for the single-currency region increased by just 0.3% in July, following a revised 0.6% drop in June.

This was slightly under the consensus forecast for a gain of 0.4%.

According to Eurostat, industrial production increased across most categories month-on-month, but a 2.9% fall in energy production weighed heavily on overall growth.

In contrast, non-durable consumer goods production rose 1.5%, durable consumer goods production rose 1.1%, capital goods production gained 1.3% while intermediate goods production increased 0.5%.

The highest monthly growth rates were seen in Slovenia (+2.1%) and Germany (+1.5%), while the largest falls were observed in Estonia (-5.5%) and Malta (-4.7%).

Compared with July 2024, industrial production across the eurozone was 1.8% higher, picking up from the revised 0.7% year-on-year gain in June.