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.