Eurozone Industrial Production Declines
Eurozone industrial production fell by 1.2% month-on-month in August, following a 0.3% rebound in July.
Despite previous optimism, the reality turned out to be less positive, with a big decline in capital and durable consumer goods production.
- Germany, Italy, and Greece posted sizeable declines of more than 2%.
- France and Spain posted smaller declines of under 1%.
- Ireland's production surged by 9.8% month-on-month.
Without Ireland, the reading would have been much weaker.
This decline serves as a warning sign that the economy is not accelerating despite improving business confidence.
Author's summary: Eurozone industrial production slumps in August.