Link Securities | The European statistical agency Eurostat reported that seasonally adjusted industrial production contracted by 1.2% in the Eurozone in August compared to July, significantly less than the 1.8% decline projected by the FactSet consensus of analysts. In August, industrial production fell by 0.2% for intermediate goods, 0.6% for energy, 2.2% for capital goods, and 1.6% for durable consumer goods. Conversely, production increased by 0.1% for non-durable consumer goods.
Among the Member States with available data, the largest monthly declines in industrial production in August were recorded in Germany (down 5.2%), Greece (4.5%), and Austria (3.1%). In contrast, the largest increases were observed in Ireland (up 9.8%) and Luxembourg (4.8%).
Year-on-year, industrial production in the eurozone rose by 1.1% in August (2.0% in July). In August, compared with the same month of the previous year, industrial production fell by 1.7% for intermediate goods, 0.7% for energy, 0.4% for capital goods and 2.6% for durable consumer goods, while it grew by 8.2% for non-durable consumer goods.
Among the Member States with available data, the highest year-on-year increases in industrial production were recorded in Ireland (28.6%) and Luxembourg (9.5%), while the largest decrease was observed in Slovakia (6.3%).
