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Eurozone industrial production rises more than expected in August

Industrial production in the eurozone rose more than expected in August, driven by a rebound in production of durable and nondurable consumer goods and intermediate goods.

Production increased by 1.0% in August from July, well above Econoday's consensus estimate of 0.4%. The decrease in production for July was also revised down to 0.7% from 0.8%, Eurostat said.

Energy production increased by 1.9% from the previous month, durable consumer goods production was up 1.5% and production of nondurable consumer goods and capital goods rose by 1.4% each. Intermediate goods production increased by 0.4%.

On a year-over-year basis, industrial production in the single-currency area climbed by 0.9% in August after rising by an upwardly revised 0.3% in July.