By Tuba Sahin
ANKARA (AA) – Euro area industrial production bounced back on a monthly basis in August, better than market forecast, according to the Eurostat data released on Wednesday.
Industrial output in the single currency zone grew 1.5% month-on-month in August, following a 2.3% contraction in July, the Eurostat data showed.
The market forecast was a 0.6% monthly rise for August.
The production of capital goods climbed 2.8%, durable consumer goods by 0.9%, and non-durable goods by 0.7% from a month earlier in August.
Meanwhile, intermediate goods fell by 0.5% and energy by 2.1% in the same period.
In the EU, industrial production increased 1.1% in August, after falling 1.5% the previous month.
Among member states for which data are available, the highest monthly hikes were seen in Ireland with 16.6%, Estonia with 5.0%, and Denmark with 4.3%.
The largest monthly falls were posted in Sweden with 7.0%, Belgium with 6.1%, and the Netherlands with 1.5%.
On an annual basis, industrial production hiked 2.5% in the euro area and 3.5% in the EU27 from August 2021.
The eurozone/euro area, or EA19, represents member states that use the single currency – euro – while the EU27 includes all member countries of the bloc.