Eurozone: Industrial production fell in September for the second consecutive month

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Industrial production in the eurozone fell in September for the second month in a row as delays in deliveries stemming from supply problems hampered manufacturing.

Production from factories, mines and utilities in the region fell 0.2% in September from August, Eurostat said.

Economists expected a 0.7% drop.

In August, industrial production fell by 1.7% on a monthly basis, compared to previous estimates for a fall of 1.6%.

In September, total industrial production was lower due to the decline in the production of capital goods, which fell by 0.7% on a monthly basis.

On an annual basis, industrial production increased by 5.2% in September, but remained below pre-pandemic levels.

Supply problems due to shortages of semiconductors significantly affect the automotive sector in the euro area, but companies from other sectors are also finding it difficult to find enough components.

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Source From: Capital

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