BRUSSELS- Euro zone industrial production rose by more than expected in August, data showed on Friday, as factories made more consumer goods although overall output was down by more than 5 percent from a year earlier.
The European Union’s statistics office Eurostat said industrial production in the 20 countries sharing the euro rose by 0.6 percent month-on-month in August for a 5.1 percent year-on-year decline.
Economists polled by Reuters had expected a 0.1 percent monthly increase and a 3.5 percent decline from a year earlier.
The stronger than expected month-on-month numbers resulted from a 1.2 percent rebound in production of durable consumer goods, such as televisions or fridges, after a similar-sized decline in July.
Output of non-durable consumer goods, such as food or clothing, rose by 0.5 percent for a second consecutive month. Capital goods output ticked up by 0.3 percent after a sharp fall in July. Production of energy and intermediate goods, such as steel or glass, declined.
Compared with a year earlier, all types of production were some 5-7 percent lower, except for non-durable consumer goods, whose decline was 1.4 percent . -Reuters