2023.07.1310:37:00UTC+00Eurozone Industrial Output Grows At Slower Pace

Eurozone industrial production expanded for the second straight month in May, though at a weaker rate compared to the previous month, Eurostat reported Thursday.

Industrial production posted a monthly growth of 0.2 percent in May after rising 1.0 percent in April. That was just below the 0.3 percent rise economists had expected.

Capital goods production was the strongest performing sector in May, rising by 1.0 percent.

Production of both intermediate goods and durable consumer goods advanced 0.5 percent over the month, while energy output declined by 1.1 percent.

On a yearly basis, industrial production fell 2.2 percent in May after a 0.2 percent rebound in the preceding month.

The EU27 industrial production moved up 0.1 percent monthly, while it contracted 1.8 percent from a year ago.