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Euro zone industry output stronger than expected in Sept -Breaking

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© Reuters. FILEPHOTO: Workers wear a protective mask when they work at Volkswagen after the factory was shut down by coronavirus in Wolfsburg. This happened on April 27, 2020. The shutdown occurred as COVID-19 spreads.

BRUSSELS (Reuters – The Euro zone Industrial Production fell less than forecast in September according to Friday’s data. However, it was higher year-on-year than predicted due to a spike in the output of durable consumer goods.

Eurostat, the European Union’s statistical office, said that industrial production fell 0.2% month on month in September. That compares with a 5.2% annual increase.

Reuters polled economists and forecasted a 0.5% decrease month-on–month, as well as a 4.1% rise year-on–year for September.

The month saw an increase in production of consumer non-durable goods like clothing and food by 1.0%. They were also 8.5% more than September 2020.

Capital goods output, including machinery and equipment, fell 0.7% compared to a month ago, while it was 5.9% more year-on-year. The September output of intermediate goods fell by 0.2% in September but was 5.0% more than the year before.

The month saw an increase in durable goods production of 0.5% and 1.1% respectively.

Both month-on–month and year-on–year, energy output was stable.

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