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Eurozone Industrial Production Recovers In August

Eurozone industrial production recovered in August driven by the rebound in capital goods and durable consumer goods output, Eurostat said on Friday.

Industrial output grew by more-than-expected 0.6 percent on a monthly basis in August, in contrast to the 1.3 percent decrease in the previous month. Output was forecast to rise 0.1 percent.

Among sub-sectors of production, capital goods output grew 0.3 percent after a 3.1 percent fall. Likewise, durable consumer goods output increased 1.2 percent, reversing July’s 1.3 percent decrease. The increase in non-durable consumer goods production remained at 0.5 percent.

Partially offsetting these gains, intermediate goods output slid 0.3 percent and energy production fell 0.9 percent.

On a yearly basis, the decline in industrial production deepened to 5.1 percent from 2.2 percent in July. This was worse than economists’ forecast of 3.5 percent decrease.

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