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Eurozone industrial output extends fall in April

Eurozone industrial output extends fall in April

Mubasher: Industrial production in the Eurozone declined by 0.5% in April, compared with March, according to official data released on Thursday.

In the 28-member European Union (EU28), industrial output fell by 0.7% in April, compared with the previous month, the Eurozone’s statistical office, the Eurostat said.

The industrial production in the Eurozone went down by 0.4% last March, while the EU28 output saw a decline of 0.2%.

On an annual basis, industrial output in the Eurozone and the EU28 edged down by 0.4% and 0.1% last April respectively.

In the Eurozone, durable consumer goods production dropped by 1.7% in April, with falls of 1.4% in capital good and 1% for intermediate goods, whereas energy output climbed by 1.4% and non-durable consumer goods production went up by 0.2%.

For the EU28, the production of capital and intermediate goods fell by 2 % and 0.9%, respectively as the volume of durable consumer goods went down by 0.7% and non-durable goods by 0.2%, but energy products rose by 0.9%.

The biggest falls were seen in the UK at-2.7%, Germany at -2.3%, and Latvia at -2%, while the biggest gains were observed in Ireland at 3.6%, Portugal at 2.9%, Finland at 2.2%, and Luxembourg at 2.1%.

By 9:20 am GMT, the EUR/USD pair ticked up by 0.06% to $1.1294.