According to the report from the Eurostat, in April, eurozone industrial production fell by 0.1% after rising by 0.5% in March (revised from +0.6%). Economists had expected an increase of 0.2%. In annual terms, industrial production fell by 3.0% after a 1.2% decline in March (revised from -1.0%). Consensus estimates suggested a drop by 2.0%. Meanwhile, among the countries of the European Union, industrial production increased by 0.5% on a monthly basis and fell by 2.0% per annum.
Eurostat reported that the monthly change in the eurozone was caused by a drop in production of intermediate goods (-0,4%). However, industrial production increased for energy (+0.4%), capital goods (+0.7%), durable consumer goods (+0.3%) and non-durable consumer goods (+3.4%).
Meanwhile, the decline in industrial production in the eurozone compared to April 2023 was caused by a drop in production of intermediate goods (-2.0%), energy (-1.1%), capital goods (-5.3%) and durable consumer goods (-3.1%). Meanwhile, non-durable consumer goods production increased by 0.7%.
As for the EU countries, the largest annual decreases were recorded in Ireland (-15.7%), Latvia (-7.8%) and Finland (-6.8%). The highest increases were observed in Denmark (+17.4%), Greece (+10.8%) and Slovenia (+7.4%).