Salem Radio Network News Monday, December 6, 2021

Business

Euro zone industry output stronger than expected in Sept

BRUSSELS (Reuters) – Euro zone industrial production dipped by less than expected in September, data showed on Friday, leaving it higher than anticipated year-on-year due to a surge in output of non-durable consumer goods.

The European Union’s statistics office Eurostat said industrial production in the 19 countries sharing the euro fell 0.2% month-on-month in September for a 5.2% year-on-year increase.

Economists polled by Reuters had forecast a 0.5% decline month-on-month and a 4.1% increase year-on-year in September.

Production of non-durable consumer goods, such as food or clothing, rose by 1.0% in the month and were 8.5% higher than in September 2020.

Output of capital goods, such as machinery and equipment, was 0.7% weaker than a month earlier, but 5.9% higher year-on-year. Intermediate good production also dipped in September, by 0.2%, while being 5.0% higher than in the previous year.

Durable goods production increased 0.5% in the month and by 1.1% year-on-year.

Energy output was unchanged both month-on-month and year-on-year.

(Reporting by Philip Blenkinsop)

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