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Euro area industrial production drops more quickly than expected

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Staff Writer | Monday January 14, 2019 10:12AM ET
Euro area industrial
Europe   Economists had projected a drop of 1.2%

Euro area industrial production shrank more quickly than expected in November, amid sharp declines in the output of capital and durable consumer goods.


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According to Eurostat, industrial output in the 19 member strong single currency bloc weakened by 1.7% month-on-month and decreased by 3.3% year-on-year.

Economists had projected a drop of 1.2% versus October and a fall of 2.0% in comparison to the same month one year ago.

Versus October, production of capital goods was the weakest link in the chain, retreating by 1.3%, while that of durable consumer goods fell back by 1.7%.

Output of intermediate and non-durable consumer goods also softened, by 1.2% and 1.0%, respectively.

Energy production meanwhile was down by 0.6%.

From among the euro area's largest economies, industrial output in Germany was weakest, dropping by 1.7% on the month, followed close behind by falls of 1.6% in both Italy and Spain.

In France, production shrank by 1.3% although in the Netherlands it was flat.

Irish industrial production was especially weak, retrating by 7.5%.

 

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