Eurozone PPI growth beats forecasts in August
By Iain Gilbert
Date: Thursday 03 Oct 2024
(Sharecast News) - Industrial output in the eurozone rose more than expected in August, according to data released by Eurostat on Thursday.
Industrial production increased by 0.6% in August, easily beating expectations for a 0.3% increase.
However, when compared with August 2023, production was 2.3% lower, following a downwardly revised 2.2% drop in July and forecasts for a decline of 2.4%.
Intermediate goods production rose 1.9% month-on-month while capital goods prices grew 0.1% and prices for both durable and non-durable goods held steady.
The EU's PPI rose 0.4% on a monthly basis but was still down 2.1% on the year, with Estonia, Greece and Spain leading the way. Ireland posted the largest decrease, followed by Lithuania and Romania.
Reporting by Iain Gilbert at Sharecast.com
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