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Eurozone Industrial Production Falls In August

Eurozone industrial output declined for the first time in three months in August, Eurostat reported Wednesday.

Industrial output dropped 1.6 percent month-on-month in August, reversing a 1.4 percent rise in July. The pace of decline matched economists' expectations and this was the first fall since June.

On a yearly basis, industrial production grew 5.1 percent, slower than the 8 percent expansion in July but faster than the expected rate of 4.7 percent.

Among components of production, output of capital goods slid 3.9 percent and durable consumer goods by 3.4 percent. Production of intermediate goods was down 1.5 percent and that of non-durable consumer goods by 0.8 percent. By contrast, energy output grew 0.5 percent.

Industrial production in the EU27 decreased 1.5 percent on month in August and expanded 5.3 percent annually.

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