Eurozone Industrial Production Contracts by 2.4 Percent in April

(MENAFN) Industrial production across the euro area suffered a sharper-than-expected decline in April, contracting by 2.4% compared to March, according to figures released Friday by Eurostat, the European Union’s official statistics office. The drop outpaced economists’ forecast of a 1.6% decline and marked setbacks across all major industrial sectors.

Among the eurozone’s five key industrial components, non-durable consumer goods experienced the most significant hit, plunging 3%. Other categories followed suit: capital goods fell 1.1%, energy dropped 1.6%, intermediate goods slipped 0.7%, and durable consumer goods dipped 0.2%.

Industrial output also weakened across the broader EU27, declining 1.8% month-on-month in April.

"The largest monthly decreases were recorded in Ireland (-15.2%), Malta (-6.2%) and Lithuania (-3.0%). The highest increases were observed in Denmark (+3.5%), Luxembourg (+3.2%), Croatia and Sweden (+2.5% both)," Eurostat stated.

Despite April’s downturn, annual comparisons painted a more positive picture. Industrial production rose 0.8% in the euro area and 0.6% across the EU compared to April 2024.

Within the eurozone, non-durable consumer goods led annual growth with a robust 6.1% increase, while intermediate goods dropped 1% year-on-year. The EU followed a similar pattern, with non-durable consumer goods up 4.1% and intermediate goods down 1% annually.

"The highest annual increases were recorded in Ireland (+18.4%), Finland (+10.2%) and Croatia (+6.5%). The largest decreases were observed in Denmark (-11.6%), Bulgaria (-10.5%) and Slovenia (-4.6%)," Eurostat added.

The eurozone—or EA20—comprises the EU nations that use the euro currency, while the EU27 includes all member countries of the European Union.

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