Eurozone industrial production declines less than forecast in July

By Tuba Ongun

Industrial production in the Eurozone fell by 0.3% in July, according to data released on Friday, a decrease that was smaller than anticipated. The decline follows a period of stagnation in June, as reported by Eurostat.

The data reveals a varied performance across different sectors. Production of durable consumer goods dropped by 2.8%, capital goods fell by 1.6%, and intermediate goods decreased by 1.3%. Conversely, energy production increased by 0.3%, and non-durable consumer goods saw a rise of 1.8%.

In the broader European Union, industrial production declined by 0.1% for the same period.

Year-on-year, industrial output in the Eurozone fell by 2.2%, while the EU experienced a 1.7% decrease.

The Eurozone, or EA19, consists of countries using the euro, whereas the EU27 includes all member states of the EU.