Eurozone industrial output unexpectedly shrinks in April

Eurozone industrial output unexpectedly shrinks in April

Industrial production in euro area falls 0.1% from a month earlier, while it rises 0.5% in EU

By Tuba Ongun

Eurozone industrial production unexpectedly fell in April compared to a month ago, according to data released on Thursday.

Industrial output in the euro area fell 0.1% month-on-month in April, reversing March's downwardly revised growth of 0.5%, Eurostat data showed.

The figure bucked market expectations of a 0.1% rise for the month.

Production rose by 3.4% for non-durable consumer goods, 0.7% for capital goods, 0.4% for energy, and 0.3% for durable consumer goods, while it fell 0.4% for intermediate goods.

In the EU, on the other hand, industrial production grew 0.5% in April after remaining stable in March.

On an annual basis, industrial production declined 1.0% in the euro area and 2% in the EU.

The eurozone/euro area, or EA19, represents member states that use the bloc's single currency, the euro, while the EU27 includes all of its member countries.

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