Eurozone Industrial Output Slows in June – Eurostat
2022.08.12 13:26
By Scott Kanowsky
Investing.com — The output of industrial firms in the Eurozone decelerated in June, but still came in above estimates, as a slowdown in the production of non-durable consumer goods was partially offset by strength in the capital goods sector.
Eurostat data released on Friday showed monthly industrial production rose by 0.7% in the common currency area, down from the upwardly revised reading of 2.1% in May. Economists had expected an increase of 0.2%.
On an annualized basis, the figure jumped by 2.4%, also well ahead of forecasts of 0.8%.
Production of non-durable consumer goods – or items that are consumed in one use or have a relatively short life span – weighed on overall euro area output, dropping by 3.2%. However, capital goods, which are closely linked to health of the broader economy, produced during the month moved higher by 2.6%.
