Euro zone industrial output weaker than expected in February

16th April 2018

Euro zone industrial production was much weaker than expected in February, data showed on Thursday, as a surge in energy output failed to offset a slump in the production of capital goods and consumer goods.

The European Union’s statistics office Eurostat said industrial production in the 19 countries sharing the euro fell 0.8 percent month-on-month for a 2.9 percent year-on-year rise.

Economists polled by Reuters had expected a 0.1 percent month-on-month rise and a 3.8 percent annual gain.

Eurostat also revised upwards its data for January to a 0.6 percent monthly decline from the previously reported -1.0 percent and to a 3.7 percent year-on-year rise from 2.7.

The weaker than expected February result was due to falling production in all categories — intermediate gods, capital goods and durable and non-durable consumer goods — except energy, the output of which surged 6.8 percent on the month after a 1.1 percent monthly decline in January.

Year-on-year, energy production rose 5.7 percent in February after a 8.9 percent plunge in January, but all other components showed a smaller annual rise than the month before.

Source: REUTERS