Eurozone Industrial Output Recovers In August

RTTNews | 43 days ago

(RTTNews) - Eurozone industrial production recovered in August largely due to the rebound in capital goods and durable consumer goods output, data from Eurostat showed on Tuesday.

Industrial output posted a monthly growth of 1.8 percent in August, reversing July's 0.5 percent decline. The growth came in line with expectations.

Despite the strongest rise in industrial output in over a year, it is probably not the start of a sustained recovery, Capital Economics' economist Elias Hilmer said. Production is more likely to drop back over the rest of the year, the economist added.

ING economist Bert Colijn said it looks like improvements in the inventory cycle will be more of a story for next year. "For the manufacturing sector, this means that we don't expect a sustained recovery to start before 2025," said Colijn.

Production of capital goods advanced 3.7 percent, offsetting the 1.3 percent drop a month ago. At the same time, durable consumer goods output moved up 1.7 percent after a 3.1 percent fall.

Likewise, energy production gained 0.4 percent, in contrast to the 0.2 percent fall in July. The decline in intermediate goods output slowed to 0.3 percent from 1.3 percent.

Meanwhile, growth in non-durable consumer goods output softened to 0.2 percent from 1.8 percent.

On a yearly basis, euro area industrial output unexpectedly rose 0.1 percent, following a 2.1 percent fall in July. Economists had forecast a monthly decline of 1.2 percent.

Industrial production in the EU27 gained 1.3 percent on month in August and climbed 0.2 percent from the same period last year.

Tags: EUR

German GfK Consumer Sentiment To Deteriorate Sharply

German consumer confidence is set to deteriorate sharply at the end of the year as income expectations plunged to a nine-month low on growing fears of recession, a closely watched survey showed Wednesday. The consumer sentiment index slid to -23.3 in December from revised -18.4 in November, survey results jointly published by GfK and the Nuremberg Institute for Market Decisions revealed today.

RTTNews | 19h 17min ago

German Business Confidence Weakens In November

German business sentiment softened in November on a notable deterioration in current conditions as economic struggles deepened, survey results from ifo Institute showed on Monday. The business climate index fell to 85.7 in November from 86.5 in the previous month. The score was expected to fall moderately to 86.0. At 84.3, the current situation index dropped to the lowest since July 2020.

RTTNews | 2 days ago

Eurozone Private Sector Falls Back Into Contraction

The euro area private sector fell back into the negative territory in November as services activity shrank for the first time in ten months, joining manufacturing in contraction zone, survey results from S&P Global revealed Friday. The composite output index registered 48.1 in November, which was the lowest since January, and down from 50.0 in October.

RTTNews | 5 days ago

German Private Sector Continues To Shrink

Germany's private sector continued to contract in November as sustained weakness in manufacturing output was compounded by the first fall in services activity for nine months, flash Purchasing Managers' survey compiled by S&P Global showed Friday. The HCOB composite output index dropped to 47.3 in November from 48.6 in the previous month. The score signaled acceleration in the rate of decline in

RTTNews | 5 days ago

France Private Sector Falls Deep Into Contraction

France's private sector contracted the most since January as prolonged weakness in demand damped expectations, flash survey results from S&P Global showed on Friday. The flash HCOB composite output index fell markedly to 44.8 in November from 48.1 in October. This was the third monthly fall in private sector output and the score signalled the steepest contraction since January.

RTTNews | 5 days ago

Germany Narrowly Skirts Recession In Q3

The German economy grew marginally in the third quarter after a contraction, preventing a technical recession, official data revealed Friday. Gross domestic product posted a sequential growth of 0.1 percent in the third quarter, revised data from Destatis showed. The rate was downgraded from 0.2 percent estimated on October 30.

RTTNews | 5 days ago

Eurozone Consumer Confidence Sinks To Lowest In 5 Months

Consumer sentiment in the euro area deteriorated more than expected to its lowest level in five months in November, preliminary results of a survey by the European Commission showed on Thursday. The flash consumer confidence index for Eurozone fell to -13.7 from -12.5 in October. Economists were looking for a score of -13.0.

RTTNews | 6 days ago

Eurozone Inflation Rises To 2% As Estimated

Eurozone inflation returned to the 2 percent target in October, final data from Eurostat showed on Tuesday. The harmonized index of consumer prices climbed as initially estimated in October after rising 1.7 percent in September. Core inflation that excludes prices of energy, food, alcohol and tobacco, remained unchanged at 2.7 percent in October.

RTTNews | 8 days ago

EURUSD	1.05534	GBPUSD	1.26668	AUDUSD	0.64986
USDJPY	151.536	USDCAD	1.40143	USDCHF	0.88318