Eurozone industrial production rose less than forecast in June

According to the report from Eurostat, in June 2020, a month marked by some relaxation of COVID-19 containment measures in many Member States, the seasonally adjusted industrial production rose by 9.1% in both euro area and EU, compared with May 2020. Economists had expected a 10.0% increase in euro area. In May 2020, industrial production rose by 12.3% in the euro area and by 11.6% in the EU. In June 2020 compared with June 2019, industrial production decreased by 12.3% in the euro area and by 11.6% in the EU. Economists had expected a 11.5% decrease.

In the euro area in June 2020, compared with May 2020, production of durable consumer goods rose by 20.2%, capital goods by 14.2%, intermediate goods by 6.7%, non-durable consumer goods by 4.8% and energy by 2.6%.

In the EU, production of durable consumer goods rose by 20.2%, capital goods by 14.2%, intermediate goods by 6.5%, non-durable consumer goods by 5.6% and energy by 1.7%.

The highest increases were registered in Slovakia (+21.7%), Hungary (+17.1%) and Romania (+16.3%). Decreases were observed in Belgium (-1.4%) and Finland (-0.8%).