Euro area industrial output falls more than expected in June

ISTANBUL

Industrial production in the euro area dropped 1.3% in June, falling more sharply than expected and with declines across most major production categories, according to data released Thursday by Eurostat.

Economists had forecast a 0.9% monthly decrease for the month.

Among the euro area’s five industrial subcategories, production of non-durable consumer goods saw the steepest drop, down 4.7%. Other sectors also posted declines: capital goods fell 2.2%, durable consumer goods 0.6%, and intermediate goods 0.2%.

On the other hand, the production of energy goods expanded 2.9% in June.

Across the broader EU27, industrial output declined 1% in June from the previous month.

The largest monthly decreases were seen in Ireland (-11.3%), Portugal (-3.6%) and Lithuania (-2.8%). The highest increases were in Belgium (+5.1%), and France and Sweden (both +3.8%).

On an annual basis, industrial production in the eurozone and the EU rose 0.2% and 0.5%, respectively, in June.

In the eurozone, non-durable consumer goods showed the strongest annual growth at 5.8%, while durable consumer goods registered a 4% decline.

The highest annual increases were seen in Sweden (+13.4%), Ireland (+10.5%), and Latvia (+7.3%). The largest decreases were in Bulgaria (-8.2%), Hungary (-4.9%), and Slovenia (-4.3%).

The eurozone, or EA20, represents member states that use the bloc’s single currency, the euro, while the EU27 includes all member countries.