Industrial output in Eurozone drops 0.3 percent in July
Date
9/15/2024 9:35:04 AM
(MENAFN) On Friday, data released by Eurostat indicated a 0.3 percent decline in industrial production across the Eurozone for July. This decrease, though negative, was smaller than anticipated and follows a period of stagnation in June. The figures reflect a mixed performance among different industrial sectors, highlighting varying trends in production output.
The data shows that production of durable consumer goods fell by 2.8 percent, while capital goods saw a reduction of 1.6 percent and intermediate goods decreased by 1.3 percent. On the other hand, the energy sector experienced a modest increase of 0.3 percent, and production of non-durable consumer goods rose by 1.8 percent. These divergent trends underscore the uneven impact of economic factors across different industrial segments.
For the broader European Union, industrial production decreased by 0.1 percent during the same period. This slight decline reflects a more stable but still negative trend compared to the Eurozone's performance. On a year-over-year basis, industrial output in the Eurozone dropped by 2.2 percent, while the EU experienced a 1.7 percent decrease.
It is important to note that the Eurozone, or EA19, comprises the countries using the euro, whereas the European Union (EU27) includes all member states of the EU. The distinctions between these two groups help contextualize the differences in industrial production data across the region.
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