Link Securities | Eurostat published yesterday that industrial production in the Eurozone declined 0.6% in the month of May relative to April, in seasonally adjusted data. The reading beat the 1.0% drop expected by FactSet’s consensus of analysts.
By industry type in May, output fell 1.0% for intermediate goods, 1.2% for capital goods and 1.8% for consumer durables. Conversely, output rose 0.8% for energy and 1.6% for consumer non-durables.
Year-on-year, output contracted by 3.5 per cent for intermediate goods, 6.5 per cent for capital goods and 4.2 per cent for consumer durables. In contrast, output increased by 0.7 per cent for energy and 2.8 per cent for consumer non-durables.
In May and in the Eurozone, the largest decline in industrial production was in Germany (-6.6%), while the largest increases were observed in Ireland (+8.7%) and Greece (+6.8%).
