Eurozone industrial production falls less than expected

(Sharecast News) - Industrial output across the eurozone declined in August, according to figures out on Wednesday from Eurostat, though the downturn wasn't as severe as expected. Industrial production was 1.2% lower over the month, erasing a revised 0.5% increase in July but not as bad as the 1.6% decline expected by analysts.

Non-durable consumer goods was the only category to record an increase in production over the month, by 0.1%, while intermediate goods fell 0.2%, energy by 0.6%, capital goods by 2.2% and durable consumer goods by 1.6%.

Among member states, the largest monthly decreases were seen in Germany (-5.2%), Greece (-4.5%) and Austria (-3.1%), while the strongest rates of growth wee recorded in Ireland (+9.8%) and Luxembourg (+4.8%).

Compared with August 2024, industrial production across the eurozone was up 1.1%, a marked slowdown from the 2.0% growth seen in July.