Eurozone Industrial Production Declines in August
Industrial production in the eurozone fell by 1.2% month-on-month in August, following a 0.3% rebound in July.
This decline serves as a warning sign that the economy is not accelerating, despite improving business confidence.
A significant drop in capital and durable consumer goods production led to an overall decline in production to its lowest level since January.
- Germany, Italy, and Greece posted sizeable declines of over 2%.
- France and Spain posted smaller declines of under 1%.
- Ireland experienced a 9.8% month-on-month surge in production, which is notoriously volatile.
Without Ireland, the reading would have been much weaker.
Author's summary: Eurozone industrial production fell in August despite previous optimism.