Eurozone industrial production growth showed acceleration in April

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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 production growth accelerated in April, data from Eurostat showed on Monday.

Industrial production grew 0.8 per cent on a monthly basis in April, faster than the 0.4-per-cent increase seen in March. This was the second consecutive rise in production and matched economists’ expectations.

Production of durable consumer goods advanced 3.4 per cent and that of energy grew 3.2 per cent. Capital goods production grew 1.4 per cent and intermediate goods by 0.8 per cent.

Meanwhile, the production of non-durable consumer goods fell 0.3 per cent.

On a yearly basis, industrial production surged 39.3 per cent, versus an 11.5-per-cent rise in March.

Production was forecast to climb 37.4 per cent. With demand continuing to come in quickly, the outlook for industry remains bright and seems likely to be curbed by supply side constraints, Bert Colijn, an ING economist said.

Industrial production in the EU27 gained 0.5 per cent on the month in April, and climbed 38.7 per cent from the same period last year.

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