2020.04.1610:07:00UTC+00Eurozone Industrial Production Falls Marginally

Eurozone industrial production dropped marginally in February, ahead of COVID-19 containment measures began to be widely introduced among member countries.

Industrial production fell by less-than-expected 0.1 percent month-on-month in February, reversing a 2.3 percent rise in January, data from Eurostat revealed Thursday. Output was forecast to drop 0.2 percent.

Production of capital goods and durable consumer goods decreased 1.5 percent and 2 percent, respectively.

Meanwhile, intermediate goods and non-durable consumer goods gained 0.4 percent, each. Energy output recovered in February, up 0.7 percent.

On a yearly basis, industrial production declined at a faster pace of 1.9 percent after easing 1.7 percent in January. Economists had forecast a 2 percent decrease.

In EU27, industrial output remained unchanged on month in February and slid 1.3 percent from last year.

Among member states, the largest monthly decreases in industrial production were registered in Greece, Portugal and Malta. On the other hand, Estonia reported the highest increase of 8.7 percent.