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10/12, 11:02 AM (Source: TeleTrader.com)
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Euro area industrial output jumps by 1% in August

Seasonally adjusted industrial production in the euro area rose by 1% in August compared to the previous month, the statistical office of the European Union (EU) Eurostat reported on Friday. In the whole European Union (EU28), industrial production was up by 0.8% month on month in August.

Energy production contributed most to the increase as it jumped by 1.9% compared to July, followed by durable consumer goods, up by 1.5% and non-durable consumer goods, which rose 1.4%. The production of intermediate goods in August was 0.4% higher than during the previous month. Among member states, largest output growth was observed in Malta and Ireland, surging 9.9% and 8%, respectively.

On an annual basis, industrial production in the euro area in August was up 0.9%, while it saw an increase of 1.2% in the EU28. The highest increases among member states was seen in Ireland, where industrial production soared 15.1% year on year.

Breaking the News / NP