Euro Zone Industry Output Stronger Than Expected in September

By Reuters
November 12, 2021 Updated: November 12, 2021

BRUSSELS—Euro zone industrial production dipped by less than expected in September, data showed on Friday, leaving it higher than anticipated year-on-year due to a surge in output of non-durable consumer goods.

The European Union’s statistics office Eurostat said industrial production in the 19 countries sharing the euro fell 0.2 percent month-on-month in September for a 5.2 percent year-on-year increase.

Economists polled by Reuters had forecast a 0.5 percent decline month-on-month and a 4.1 percent increase year-on-year in September.

Production of non-durable consumer goods, such as food or clothing, rose by 1.0 percent in the month and were 8.5 percent higher than in September 2020.

Output of capital goods, such as machinery and equipment, was 0.7 percent weaker than a month earlier, but 5.9 percent higher year-on-year. Intermediate good production also dipped in September, by 0.2 percent, while being 5.0 percent higher than in the previous year.

Durable goods production increased 0.5 percent in the month and by 1.1 percent year-on-year.

Energy output was unchanged both month-on-month and year-on-year.