Eurozone industrial production logged a bigger than expected decline in August, data from Eurostat revealed Tuesday.
Industrial production fell 1.8 percent month-on-month in August after recovering last month.
Economists had forecast a 1.6 percent fall for August following a revised 0.9 percent increase in July. Initially, Eurostat reported a 1 percent monthly growth in July.
Production of intermediate goods slid 0.7 percent and capital goods output fell 4.8 percent. Non-durable consumer goods output was down 0.2 percent.
Partially offsetting these declines, energy output gained 1.2 percent and durable consumer goods moved up 0.2 percent.
On a yearly basis, industrial output declined 1.9 percent in August in contrast to July’s revised 1.6 percent increase. It was forecast to drop by 0.9 percent.
In the EU28, industrial output decreased 1.4 percent from July and 0.8 percent from the same period of last year in August.
The material has been provided by InstaForex Company – www.instaforex.com