Euro area industrial production jumps past forecasts amid surge in demand for capital goods

According to Eurostat, in seasonally adjusted terms, total output expanded at a month-on-month pace of 1.2% (consensus: 0.1%).

Production of capital goods was strongest, rising by 2.6% on the month, alongside a 0.5% increase in that of intermediate goods and a 0.4% rise in that of non-durable consumer goods.

Energy output on the other hand fell by 0.8% and that of durable consumer goods by 0.3%.

At the national level, production surged at a month-on-month pace of 1.1% in Germany and of 1.1% in the Netherlands, but declined by 1.0% in Italy, -0.6% in Spain and -0.2% in France.