Euro area’s industrial production rises sequentially in August

Euro area’s industrial production grew in the month of August. On a sequential basis, the industrial production rose 0.4 percent, according to the Eurostat estimates. In the European Union, the industrial production grew 0.1 percent sequentially. On a year-on-year basis, industrial production dropped 2.8 percent in the euro area, as compared with the fall of 2 percent seen in the prior month.

Sequentially, production of capital goods rose 1.2 percent, while those of intermediate goods rose 0.3 percent. Meanwhile, production of non-durable consumer goods dropped 0.3 percent and durable consumer goods and energy fell by 0.4 percent. Among member states, Malta and Estonia and saw the highest rises in industrial production, while Slovakia and Lithuania saw the largest decreases.

On a year-on-year basis, production of non-durable consumer goods dropped 2 percent, while that of capital goods and intermediate goods fell 2.9 percent and 3.1 percent, respectively. Production of energy dropped 3.3 percent. Meanwhile, the production of durable consumer goods were up 0.4 percent. Among member states, Slovakia and Ireland recorded the largest decreases in industrial production, whereas Malta and Finland recorded the highest rises in the month.