Eurozone Posts 0.3 Percent Rally in July Industrial Output
(MENAFN) Industrial production in the eurozone edged up 0.3% in July compared to the previous month, partially recovering from June’s steep decline, according to figures released Tuesday by Eurostat.
The result came in just below economists' expectations of a 0.4% increase and followed a revised 0.6% drop in June.
Among the five main industrial categories in the eurozone, non-durable consumer goods led the rebound with a 1.5% increase. Capital goods production climbed 1.3%, durable consumer goods rose 1.1%, and intermediate goods saw a more modest gain of 0.5%.
Energy goods were the sole outlier, falling sharply by 2.9% in July.
Across the wider EU27, industrial output posted a 0.2% monthly increase.
The strongest monthly growth came from Croatia (+2.6%), followed by Hungary and Slovenia (both +2.1%), while Germany, Latvia, and Poland each reported gains of 1.5%. On the downside, Estonia (-5.5%), Malta (-4.7%), and Sweden (-3.9%) saw the steepest monthly declines.
Year-on-year, industrial production in both the eurozone and EU rose by 1.8% in July.
In the eurozone specifically, non-durable consumer goods showed the fastest annual growth at 6.6%, while intermediate goods recorded a 0.9% decline.
The most significant annual increases occurred in Latvia (+9.8%), Ireland (+8.1%), and Malta (+4%). Conversely, Bulgaria (-8.3%), Luxembourg (-4.7%), and Slovakia (-4.6%) posted the largest yearly drops.
The eurozone, or EA20, consists of countries using the euro as their official currency, while the EU27 encompasses all member states of the European Union.
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