Eurozone Industrial Production Contracts by 2.4 Percent in April
(MENAFN) Industrial production across the euro area suffered a sharper-than-expected decline in April, contracting by 2.4% compared to March, according to figures released Friday by Eurostat, the European Union’s official statistics office. The drop outpaced economists’ forecast of a 1.6% decline and marked setbacks across all major industrial sectors.
Among the eurozone’s five key industrial components, non-durable consumer goods experienced the most significant hit, plunging 3%. Other categories followed suit: capital goods fell 1.1%, energy dropped 1.6%, intermediate goods slipped 0.7%, and durable consumer goods dipped 0.2%.
Industrial output also weakened across the broader EU27, declining 1.8% month-on-month in April.
"The largest monthly decreases were recorded in Ireland (-15.2%), Malta (-6.2%) and Lithuania (-3.0%). The highest increases were observed in Denmark (+3.5%), Luxembourg (+3.2%), Croatia and Sweden (+2.5% both)," Eurostat stated.
Despite April’s downturn, annual comparisons painted a more positive picture. Industrial production rose 0.8% in the euro area and 0.6% across the EU compared to April 2024.
Within the eurozone, non-durable consumer goods led annual growth with a robust 6.1% increase, while intermediate goods dropped 1% year-on-year. The EU followed a similar pattern, with non-durable consumer goods up 4.1% and intermediate goods down 1% annually.
"The highest annual increases were recorded in Ireland (+18.4%), Finland (+10.2%) and Croatia (+6.5%). The largest decreases were observed in Denmark (-11.6%), Bulgaria (-10.5%) and Slovenia (-4.6%)," Eurostat added.
The eurozone—or EA20—comprises the EU nations that use the euro currency, while the EU27 includes all member countries of the European Union.
Legal Disclaimer:
MENAFN provides the
information “as is” without warranty of any kind. We do not accept
any responsibility or liability for the accuracy, content, images,
videos, licenses, completeness, legality, or reliability of the information
contained in this article. If you have any complaints or copyright
issues related to this article, kindly contact the provider above.
Legal Disclaimer:
EIN Presswire provides this news content "as is" without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the author above.
