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Eurozone industrial production bounces back in August

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Eurozone industrial production bounces back in August

Seasonally adjusted industrial production in the eurozone increased 0.4% month over month in August after a 0.4% drop in July, Eurostat said.

The Econoday consensus estimate was for a 0.3% monthly rise in August.

On a monthly basis, intermediate goods' production rose 0.3% and capital goods production increased 1.2%.

Production of non-durable consumer goods fell 0.3% and that of durable consumer goods dropped 0.4%. Energy production fell 0.4%.

In annual terms, eurozone industrial production dropped 2.8%, led by a 3.3% drop in energy production in August. Production of intermediate goods declined 3.1% and that of capital goods was down 2.9%. Production of non-durable consumer goods fell 2.0%, while that of durable consumer goods rose 0.4%.