Euro area industrial output rises less than expected in September

By Mucahithan Avcioglu

ISTANBUL (AA) - Industrial production in the euro area rose 0.2% on a monthly basis in September, reversing the previous month's sharp decline, according to data released Thursday by Eurostat.

Economists had forecast a 0.7% monthly increase for the month, while the data followed an upwardly revised 1.1% decline in August.

Among the euro area’s five industrial subcategories, production of energy goods saw the largest rise, up 1.2%, followed by capital goods and intermediate goods, up 0.3% each.

Meanwhile, the production of non-durable consumer goods dropped 2.6%, and durable consumer goods fell 0.5% on a monthly basis.

Across the broader EU27, industrial output increased 0.8% from the previous month.

The largest monthly increases were seen in Denmark (+7.2%), Sweden (up 5.3%), and Greece (+1.5%). The highest declines were in Ireland (-9.4%), Luxembourg(-5.7%), and Malta (-1.7%).

On an annual basis, industrial production in the eurozone rose 1.2%, while surging 2% in the EU, below expectations.

In the eurozone, non-durable consumer goods showed the strongest annual growth at 2.2%, while durable consumer goods registered a 3% decline.

The highest annual increases were seen in Sweden (+14.7%), Denmark (+9.5%), and Greece (+7.1%). The largest decreases were in Bulgaria (-5.6%), Luxembourg (-3.4%), and Lithuania (-2.3%).

The eurozone, or EA20, represents member states that use the bloc’s single currency, the euro, while the EU27 includes all member countries.