Eurozone industrial production rebounds on consumer goods bounce

Eurozone industrial production rebounded surprisingly strongly in August, according to the latest data from Eurostat.

Industrial production among euro countries bounced 1.6% on the previous month, beating forecasts for a 1.1% rise following the 1.1% decline in July.

In the wider European Union, production was up 1.4%.

Compared to last year, eurozone industrial production was up 1.8%, ahead of expectations for a 1.5% improvement.

Eurostat said the increase in euro area was due to production of durable consumer goods rising by 4.3%, capital goods by 3.5%, energy by 3.3% and intermediate goods by 1.4%, while production of non-durable consumer goods fell by 0.6%.