Industrial Production in Eurozone Declined in September

Industrial production for the Eurozone fell unexpectedly in September due to factors most importantly a sharp decline in the production of consumer durables, which is a negative indication of a quarter that has begun to strong.

The European Union’s statistics office said industrial output in 19 eurozone countries fell 0.4% month-on-month in September, while it fell 6.8% year-on-year.

This compares with the median forecast of economists in a Reuters poll, a month-on-month increase of 0.7% and a year-on-year decrease of 5.8%.

Production of durable consumer goods, such as televisions and washing machines, was the strongest component of growth in recent months but fell 5.3% in September. Energy production also fell 1% this month. But the rest of the components, especially non-durable consumer goods such as clothing, recorded a growth of 2.1%.