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Eurozone Posts 0.3 Percent Rally in July Industrial Output
(MENAFN) Industrial production in the eurozone edged up 0.3% in July compared to the previous month, partially recovering from June’s steep decline, according to figures released Tuesday by Eurostat.
The result came in just below economists' expectations of a 0.4% increase and followed a revised 0.6% drop in June.
Among the five main industrial categories in the eurozone, non-durable consumer goods led the rebound with a 1.5% increase. Capital goods production climbed 1.3%, durable consumer goods rose 1.1%, and intermediate goods saw a more modest gain of 0.5%.
Energy goods were the sole outlier, falling sharply by 2.9% in July.
Across the wider EU27, industrial output posted a 0.2% monthly increase.
The strongest monthly growth came from Croatia (+2.6%), followed by Hungary and Slovenia (both +2.1%), while Germany, Latvia, and Poland each reported gains of 1.5%. On the downside, Estonia (-5.5%), Malta (-4.7%), and Sweden (-3.9%) saw the steepest monthly declines.
Year-on-year, industrial production in both the eurozone and EU rose by 1.8% in July.
In the eurozone specifically, non-durable consumer goods showed the fastest annual growth at 6.6%, while intermediate goods recorded a 0.9% decline.
The most significant annual increases occurred in Latvia (+9.8%), Ireland (+8.1%), and Malta (+4%). Conversely, Bulgaria (-8.3%), Luxembourg (-4.7%), and Slovakia (-4.6%) posted the largest yearly drops.
The eurozone, or EA20, consists of countries using the euro as their official currency, while the EU27 encompasses all member states of the European Union.
The result came in just below economists' expectations of a 0.4% increase and followed a revised 0.6% drop in June.
Among the five main industrial categories in the eurozone, non-durable consumer goods led the rebound with a 1.5% increase. Capital goods production climbed 1.3%, durable consumer goods rose 1.1%, and intermediate goods saw a more modest gain of 0.5%.
Energy goods were the sole outlier, falling sharply by 2.9% in July.
Across the wider EU27, industrial output posted a 0.2% monthly increase.
The strongest monthly growth came from Croatia (+2.6%), followed by Hungary and Slovenia (both +2.1%), while Germany, Latvia, and Poland each reported gains of 1.5%. On the downside, Estonia (-5.5%), Malta (-4.7%), and Sweden (-3.9%) saw the steepest monthly declines.
Year-on-year, industrial production in both the eurozone and EU rose by 1.8% in July.
In the eurozone specifically, non-durable consumer goods showed the fastest annual growth at 6.6%, while intermediate goods recorded a 0.9% decline.
The most significant annual increases occurred in Latvia (+9.8%), Ireland (+8.1%), and Malta (+4%). Conversely, Bulgaria (-8.3%), Luxembourg (-4.7%), and Slovakia (-4.6%) posted the largest yearly drops.
The eurozone, or EA20, consists of countries using the euro as their official currency, while the EU27 encompasses all member states of the European Union.
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