Eurozone output stronger than expected in July

BRUSSELS, Sept. 15 (Reuters) – Industrial production in the eurozone was stronger than expected in July, according to data released on Wednesday, thanks to higher production of capital goods and non-durable consumer goods.

The European Union’s statistics office, Eurostat, said industrial production in the 19 euro-sharing countries rose 1.5% m / m in July to rise 7.7% year-on-year .

Economists polled by Reuters had forecast a monthly increase of 0.6% and an annual increase of 6.3%.

Eurostat said production of capital goods jumped 2.7% mo in July after falling 1.1% in June, up 5.9% from the same period in 2020 The production of non-durable consumer goods was up 3.5% on a monthly basis and 10.1% annually.

Compared to last year, the production of intermediate goods also increased by 11.2% and that of durable consumer goods by 9.8%.

The stronger data for the start of the third quarter comes after the eurozone economy grew 2.2% in the second quarter, as the easing of restrictions on coronaviruses spurred a rebound after a brief recession.

Reporting by Jan Strupczewski; edited by Philip Blenkinsop

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