Eurozone Industrial Output Growth Tops Expectations

Eurozone Industrial Output Growth Tops Expectations

Eurozone industrial production grew more-than-expected in August, data from Eurostat revealed Friday.

Industrial production climbed 1 percent on a monthly basis, reversing 0.7 percent drop each in June and July. Output was expected to rise moderately by 0.4 percent. The increase was driven by a 3.1 percent rise in non-durable consumer goods output and 1.3 percent increase in capital goods.

Meanwhile, intermediate goods output fell 0.4 percent and energy production was down 0.3 percent. Durable consumer goods output decreased 1.1 percent.

On a yearly basis, industrial production growth advanced to 0.9 percent from 0.3 percent in July. Economists had forecast output to drop 0.3 percent.

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