Euro area industrial production jumps in May


Euro area industrial production jumps in May

Wed, 12 July 2017
Article viewed 26 times
Euro area industrial production jumps in May

(ShareCast News) - Industrial production in the single currency bloc jumped in May, led by increased manufacturing of capital goods.
Total output increased by 1.3% month-on-month, according to Eurostat, easily besting economists' projections for a rise of 0.6%.

Versus the year-ago month, industrial production accelerated from a 1.2% clip in April to 4.0% for May.

Capital goods output rose by 2.3% on the month, more than reversing the prior April's 1.1% drop. Year-on-year it grew by 5.5%.

Production of durable consumer goods also picked-up significantly, growing by 1.8% while that of non-durable ones was 1.2% ahead.

Energy output on the other hand came off, rising by just 0.9% after an increase of 3.8% in the previous month.

Activity picked up in all the main economies and markedly so in many cases.

In comparison to the previous month, German production grew by 1.4%, in France by 1.9%, in the Netherlands by 1.0% and in Spain by 1.6%.

Italian industrial production also grew, rising by 0.7% after having shrunk 0.5% in April.

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