Economy

Euro area industrial production down by 0.5%

eurokriisiIn September 2013 compared with August 2013, seasonally adjusted industrial production fell by 0.5% in the euro area, according to estimates from Eurostat.

In August industrial production increased by 1.0%. In September 2013 compared with September 2012, industrial production rose by 1.1%.

Production of durable consumer goods fell by 2.6%.

Industrial production in the largest euro area economy, Germany, fell 0.8 percent from August. French output dropped 0.4 percent, while Italian and Spanish production increased 0.2 percent and 0.4 percent, respectively.

The fall reported by Eurostat was larger than economists expected. According to Bloomberg, the actual production fall was 0.3 percent higher than the median forecast in a Bloomberg News survey of 32 economists.

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