Euro Area industrial production drops 2% in September 2024

Industrial production in the Euro Area declined by 2% month-over-month in September 2024, marking the steepest drop since January and surpassing market expectations of a 1.4% decrease.

Euro Area industrial production drops 2% in September 2024

Output fell for energy, dropping 1.5% after a 0.3% rise in August, and for capital goods, a significant 3.8% decline following a similar increase in the previous month. Production for intermediate goods remained unchanged at 0%, an improvement from the last -0.3%. Durable consumer goods production slowed to 0.5% from 1.9%, while non-durable consumer goods saw an uptick to 1.6% from 0.2%.

Germany leads Euro Area decline in industrial production, Spain posts growth

Among major Euro Area economies, Germany experienced a notable 2.7% drop in industrial production, while France and Italy reported declines of 0.9% and 0.4%, respectively. However, Spain saw a positive growth of 0.9%. On an annual basis, industrial output fell by 2.8%, a deeper contraction compared to the 0.1% decline in August.