Eurozone PPI growth beats forecasts in August
Industrial output in the eurozone rose more than expected in August, according to data released by Eurostat on Thursday.
Industrial production increased by 0.6% in August, easily beating expectations for a 0.3% increase.
However, when compared with August 2023, production was 2.3% lower, following a downwardly revised 2.2% drop in July and forecasts for a decline of 2.4%.
Intermediate goods production rose 1.9% month-on-month while capital goods prices grew 0.1% and prices for both durable and non-durable goods held steady.
The EU's PPI rose 0.4% on a monthly basis but was still down 2.1% on the year, with Estonia, Greece and Spain leading the way. Ireland posted the largest decrease, followed by Lithuania and Romania.
Reporting by Iain Gilbert at Sharecast.com