Web Notifications

SaltWire.com would like to send you notifications for breaking news alerts.

Activate notifications?

Euro zone industry output drops again, dragged down by Germany

STORY CONTINUES BELOW THESE SALTWIRE VIDEOS

Olive Tapenade & Vinho Verde | SaltWire

Watch on YouTube: "Olive Tapenade & Vinho Verde | SaltWire"

BRUSSELS (Reuters) - Euro zone industrial production fell for a second consecutive month in April due to a sharp decline in Germany and a slight fall in Italy, data showed on Thursday.

European Union statistics office Eurostat said output in the 19 countries sharing the euro dropped by 0.5% on the month, in line with market expectations, and by 0.4% year-on-year.

The monthly fall in April followed a 0.4% decrease of the industrial production in March and a flat reading for February.

Output was driven down by a 1.7% drop in durable consumer goods, more than reversing a pick-up in March. Production of intermediate goods and capital goods also declined by 1.0% and 1.4% respectively.

The only positive components were output of energy and of non-durable consumer goods, although the latter very slightly.

Germany, the euro zone's largest economy, suffered a 2.3% drop, while output in Italy, the zone's third largest economy, declined for a second straight month, by 0.7%. Production in France, the number two economy, rose by 0.4%.

(Corrects paragraph 4 of this story to read pick-up in March, not April.)

(Reporting by Philip Blenkinsop; Editing by Kevin Liffey)

Share story:
ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT