Eurozone industrial production increases more than expected in June

A real leap forward. Industrial production in the euro zone rose three times more than expected in June, according to official data published by Eurostat on Friday August 12, mainly thanks to a jump in the production of capital goods. According to the European Union’s statistical office, industrial production in the 19 countries sharing the euro rose 0.7% in June month-on-month, up 2.4% year-on-year.

These figures are surprising, given the forecasts of economists interviewed by Reuters prior to this communication. They were counting on a much lower monthly increase, around 0.2% in June and 0.8% over one year.

Credit: Eurostat

Increase in the production of investment goods

Eurostat reported that production of capital goods, which include items such as machinery, equipment, vehicles or tools, rose 2.6% in the month and 7.6% year-on-year. . This increase made it possible to offset a drop of 0.1% in June and of 0.5% over one year in the production of intermediate goods and a drop of 3.2% over one month and 1.1% over one year. production of non-durable consumer goods.

This good news confirms that the European industrial tool is recovering. In France, French industrial production increased by 1.4% in June and by 1.2% in the manufacturing sector alone, according to INSEE data.

with Reuters (Reporting Jan Strupczewski; French version Elena Vardon, editing by Kate Entringer)

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