2022.05.1310:59:00UTC+00Eurozone Industrial Production Falls Less Than Expected

Eurozone industrial production declined at a slower-than-expected pace in March, data from Eurostat showed on Friday.

Industrial output fell 1.8 percent month-on-month in March, reversing a 0.5 percent increase in February, which was revised down from a 0.7 percent rise estimated initially. Economists had forecast a 2.0 percent decline.

Production in the capital goods sector declined the most by, 2.7 percent on month in March and that of non-durable consumer goods fell 2.3 percent.

Intermediate goods sector registered a 2.0 percent decline in output, while production in the durable consumer goods segment showed an increase of 0.8 percent.

On a yearly basis, industrial production dropped 0.8 percent in March, in contrast to the 1.7 percent rebound in the previous month.

The expected rate of decrease was 1.0 percent. The 1.7 percent increase for February was revised down from +2.0 percent.

Industrial production in the EU27 contracted 1.2 percent monthly, while it grew 0.7 percent from a year ago in March.