Eurozone industrial production rose more than expected in May as production of capital and non-durable consumer goods strengthened, data showed today.
In particular, Eurostat announced that industrial production in the 19 euro countries increased by 0.8% on a monthly basis and by 1.6% compared to one before.
Markets were expecting a 0.3% rise both from the previous month and from May 2021.
Production of non-durable consumer goods such as food or clothing rose by 2.7%, and capital goods, which typically reflect business investment, by 2.5%. The latter also increased by 0.9% on an annual basis, for the first time in 2022.
Consumer durables output, which was sharply higher than in 2021, rose 1.4% in May. The production of intermediate goods remained unchanged, while for energy it decreased by 3.3%.
The highest monthly increases were recorded in Ireland and Greece, while the largest decreases were in Lithuania, the Netherlands and Luxembourg.
Specifically, in Greece industrial production showed an increase of 2.6% on a monthly basis, while compared to last year it was strengthened by 3.3%.
In Ireland, production jumped by 13.6% compared to last month, while compared to last year it was up by 3.4%.
Source: Capital
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