Eurozone industrial production declines less than expected in September

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Eurozone industrial production fell less-than-expected in September, data showed this Friday, leaving the year-on-year rally higher than expected due to an increase in manufacturing of nondurable consumer goods.

The European Union’s statistics agency, Eurostat, reported that industrial production in the 19 countries that use the euro fell by 0.2% in September from the previous month, recording a 5.2% increase year-on-year.

Economists consulted by Reuters predicted a drop of 0.5% in the month and an increase of 4.1% in the year.

The production of non-durable consumer goods, such as food or clothing, grew 1.0% in the month and registered a gain of 8.5% compared to September 2020.

Capital goods, such as machinery and equipment, lost 0.7% in production compared to the previous month, but increased by 5.9% year-on-year. The production of capital goods fell 0.2% in the month but increased 5.0% over the previous year.

The manufacturing of durable goods rose 0.5% month-on-month and 1.1% in the year.

(Reporting by Philip Blenkinsop)

Reference: CNN Brasil

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