Euro Area: Industrial output falls at sharpest rate since January in September
Latest reading: Industrial output decreased 2.0% month-on-month in seasonally adjusted terms in September (August: +1.5% mom). September’s figure marked the worst reading since January. The notable downturn came on the heels of contractions in capital goods and energy output. Moreover, durable consumer goods output lost pace. That said, intermediate goods production flatlined after shrinking in August, and non-durable consumer goods output picked up steam.
On an annual basis, factory output fell at a quicker rate of 2.8% in September (August: -0.1% yoy). Meanwhile, the trend improved slightly, with the annual average variation of industrial production coming in at minus 3.6%, up from August’s minus 3.9%.