Eurozone industrial production bounces higher in April

Eurozone industrial production bounces higher in April
Updated on

Summary Rise in industrial production in Italy and Spain has been seen encouraging.

BRUSSELS (AFP) - Industrial production in the eurozone rebounded by 0.8 percent in April, official Eurostat data showed, after a 0.4 percent drop in March, with a notable pick up for energy and non-durable consumer goods.

Particularly encouraging was a rise in industrial production in Italy and Spain where drops a month earlier had raised alarms that a fragile recovery might be faltering.

"April s rise in eurozone industrial production suggests that industry is strengthening after a weak start to the year," said James Howat of Capital Economics.

Industrial production in France remained flat however, up only 0.1 percent month-to-month, and "probably remains the eurozone s biggest problem," said Carsten Brzeski of ING bank.

On a yearly basis, French production fell 1.8 percent, far off the 1.4 percent growth eurozone-wide and 1.7 percent in powerhouse Germany.

Howat said recent surveys of industrial activity "suggest that euro-zone production might pick up a little further" in the second quarter as a whole.

"But even this pace remains too weak to substantially erode the huge slack in the euro-zone economy," he said.

Production of non-durable goods, items with a lifespan of less than three months, rose 2.1 percent in the currency bloc. Energy production rose 2.5 percent.
 

Browse Topics