Industrial production in euro area down by 1.8% in March
Industrial production in the Eurozone declined by 1.8% on a monthly level in March, less than analysts projected, Eurostat said in its report published on Friday. In the European Union, the figure went down by 1.2%. On an annual level, the output fell by 0.8% in the euro area but advanced by 0.7% in the EU.
The Eurozone saw monthly decreases of 2.7% in the production of capital goods, 2.3% in non-durable consumer goods, 2.0% in intermediate goods, and 1.7% in energy. On the other hand, the production of durable consumer goods went up by 0.8%. The EU observed a month-on-month rise of 0.7% in the production of durable goods and 1.3% in energy, and a decline in the production of capital goods of 2.6%, intermediate goods of 1.4%, and non-durable consumer goods of 1.0%.
The highest growth was noted in Lithuania with 11.3%, Estonia with 5.1%, and Bulgaria and Greece with 5.0% each. The sharpest drops were recorded in Slovakia with 5.3%, Germany with 5.0%, and Luxembourg with 3.9%.