Industrial production in the Euro Area declined 2 percent from a year earlier in July 2019, following a 2.4 percent fall in the previous month and compared to market expectations of 1.3 percent drop. This was the ninth consecutive month of contraction in the industry sector, due to falls in intermediate and capital goods output, and energy production. Industrial Production in the Euro Area averaged 1.08 percent from 1991 until 2019, reaching an all time high of 9.70 percent in August of 2000 and a record low of -21.40 percent in April of 2009.

Industrial Production in Euro Area is expected to be -2.20 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Industrial Production in Euro Area to stand at 1.50 in 12 months time. In the long-term, the Euro Area Industrial Production is projected to trend around 2.00 percent in 2020, according to our econometric models.

Euro Area Industrial Production
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Calendar GMT Actual Previous Consensus TEForecast
2019-06-13 09:00 AM Industrial Production YoY Apr -0.4% -0.7% -0.5% -0.4%
2019-07-12 09:00 AM Industrial Production YoY May -0.5% -0.4% -1.6% -1%
2019-08-14 09:00 AM Industrial Production YoY Jun -2.6% -0.8% -1.2% -1%
2019-09-12 09:00 AM Industrial Production YoY Jul -2% -2.4% -1.3% -1.4%
2019-10-14 09:00 AM Industrial Production YoY Aug -2% -2.8%
2019-11-13 10:00 AM Industrial Production YoY Sep -2.2%
2019-12-12 10:00 AM Industrial Production YoY Oct



Eurozone Industrial Output Falls More than Expected

Industrial production in the Euro Area declined 2 percent from a year earlier in July 2019, following a 2.4 percent fall in the previous month and compared to market expectations of 1.3 percent drop. This was the ninth consecutive month of contraction in the industry sector.

Capital goods production posted the steepest fall in July (-3.4 percent vs -4.0 percent in June), followed by intermediate goods (-3.0 percent vs -3.5 percent) and energy (-1.4 percent vs -0.6 percent). In contrast, durable consumer goods output grew 1.8 percent (vs -1.2 percent in June) and non-durable consumer goods production increased 1.5 percent (vs 1.7 percent in June).

Among Eurozone's largest economies, Germany's industrial output contracted by the most (-5.3 percent vs -5.9 percent), followed by Italy (-0.7 percent vs -1.2 percent) and France (-0.3 percent vs -0.4 percent). On the other hand, Spain's industrial activity rose 0.3 percent, compared to 1.3 percent growth in June.

In the EU28, industrial output dropped 1.2 percent in July (vs -1.8 percent in June), due to lower production of capital goods (-2.6 percent vs -3.4 percent), intermediate goods (-2.2 percent vs -2.8 percent) and energy (-1.7 percent vs 0.2 percent). Meanwhile, output rose for both durable (1.8 percent vs -0.7 percent) and non-durable consumer goods (2.3 percent vs 1.4 percent).

On a monthly basis, industrial output fell 0.4 percent in July (vs -1.4 percent in June and market forecasts of -0.1 percent), as production dropped for non-durable consumer goods (-0.8 percent vs -1.6 percent), energy (-0.7 percent vs -0.5 percent), and intermediate goods (-0.3 percent vs -1.2 percent). On the other hand, capital goods output jumped 1.8 percent (vs -3.6 percent in July) and durable consumer goods production rebounded 1.2 percent (vs -1.3 percent in June).

The biggest output declines were seen in Germany (-0.8 percent vs -1.5 percent), Italy (-0.7 percent vs -0.3 percent) and Spain (-0.6 percent vs -0.3 percent), while France's production increased slightly (0.2 percent vs -2.4 percent).


Eurostat | Joana Ferreira | joana.ferreira@tradingeconomics.com
9/12/2019 9:27:06 AM



Euro Area Business Last Previous Highest Lowest Unit
Business Confidence 0.11 -0.11 1.63 -3.31 Index Points [+]
Manufacturing PMI 47.00 46.50 60.60 33.50 [+]
Services PMI 53.50 53.20 58.30 39.20 Index Points [+]
Composite Pmi 51.90 51.50 58.80 45.70 Index Points [+]
Industrial Production -2.00 -2.40 9.70 -21.40 percent [+]
Industrial Production Mom -0.40 -1.40 3.30 -4.00 percent [+]
Manufacturing Production -2.00 -2.60 10.00 -21.70 percent [+]
Capacity Utilization 81.90 82.80 85.30 69.60 percent [+]
Changes In Inventories 7.71 7.61 27.72 -24.53 EUR Billion [+]
Zew Economic Sentiment Index -22.40 -43.60 89.90 -63.70 [+]
Car Registrations 896.89 961.38 1169.19 669.00 Thousand [+]
Mining Production -8.40 -12.90 42.30 -27.80 percent [+]
Industrial Sentiment -5.90 -7.30 10.20 -37.70 [+]
Services Sentiment 9.30 10.60 35.30 -25.20 [+]


Euro Area Industrial Production

In Euro Area, industrial production measures the output of businesses integrated in industrial sector of the economy such as manufacturing, mining, and utilities. This page provides the latest reported value for - Euro Area Industrial Production - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news. Euro Area Industrial Production - actual data, historical chart and calendar of releases - was last updated on September of 2019.

Actual Previous Highest Lowest Dates Unit Frequency
-2.00 -2.40 9.70 -21.40 1991 - 2019 percent Monthly
WDA




Country Last Previous
Argentina -1.90 Jul/19
Australia 1.90 Jun/19
Brazil -2.50 Jul/19
Canada 1.44 Jun/19
China 4.40 Aug/19
Euro Area -2.00 Jul/19
France -0.20 Jul/19
Germany -4.20 Jul/19
India 4.30 Jul/19
Indonesia 8.10 Jul/19
Italy -0.70 Jul/19
Japan 0.70 Jul/19
Mexico -1.70 Jul/19
Netherlands -1.90 Jun/19
Russia 2.90 Aug/19
Saudi Arabia 1.40 Dec/18
Singapore -0.40 Jul/19
South Africa -1.10 Jul/19
South Korea 0.60 Jul/19
Spain 0.80 Jul/19
Switzerland 4.80 Jun/19
Turkey -1.20 Jul/19
United Kingdom -0.90 Jul/19
United States 0.40 Aug/19


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