Eurozone industrial production falls in August

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Eurozone inflation in April was negative 0.2 percent, compared with a revised zero percent in March (AFP Photo/Philippe Huguen
Eurozone inflation in April was negative 0.2 percent, compared with a revised zero percent in March (AFP Photo/Philippe Huguen

Eurozone industrial output declined for the first time in three months in August, Eurostat reported Wednesday.

Industrial output dropped 1.6 per cent month-on-month in August, reversing a 1.4 per cent rise in July.

The pace of decline matched economists’ expectations and this was the first fall since June.

On a yearly basis, industrial production grew 5.1 per cent, slower than the 8 per cent expansion in July but faster than the expected rate of 4.7 per cent.

Among components of production, output of capital goods slid 3.9 per cent and durable consumer goods by 3.4 per cent.

Production of intermediate goods was down 1.5 per cent and that of non-durable consumer goods by 0.8 per cent.

By contrast, energy output grew 0.5 per cent.

Industrial production in the EU27 decreased 1.5 per cent on month in August and expanded 5.3 per cent annually.

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