Eurozone Aug Industrial Output Rises Unexpectedly

Eurozone Aug Industrial Output Rises Unexpectedly

Eurozone industrial production grew unexpectedly by 0.6 percent month-on-month in August, the same rate of expansion as seen in July, estimates released by Eurostat showed Friday. Production was forecast to fall by 0.4 percent.

Meanwhile, industrial production dropped 2.9 percent on a yearly basis, following a 2.8 percent fall in July. Economists had forecast a 4.1 percent decrease for August.

Production of durable consumer goods increased 3.9 percent and non-durable consumer goods grew 1.3 percent from a month ago. Energy production gained 0.9 percent and capital goods grew 0.7 percent. At the same time, intermediate goods remained stable in August.