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Eurozone Industrial Production Growth Accelerates In April

Eurozone industrial production growth accelerated in April, data from Eurostat showed on Monday.

Industrial production grew 0.8 percent on a monthly basis in April, faster than the 0.4 percent increase seen in March. This was the second consecutive rise in production and matched economists' expectations.

Production of durable consumer goods advanced 3.4 percent and that of energy grew 3.2 percent. Capital goods production grew 1.4 percent and intermediate goods by 0.8 percent. Meanwhile, the production of non-durable consumer goods fell 0.3 percent.

On a yearly basis, industrial production surged 39.3 percent versus 11.5 percent rise in March. Production was forecast to climb 37.4 percent.

With demand continuing to come in quickly, the outlook for industry remains bright and seems likely to be curbed by supply side constraints, Bert Colijn, an ING economist said.

Industrial production in the EU27 gained 0.5 percent on month in April, and climbed 38.7 percent from the same period last year.

The material has been provided by InstaForex Company - www.instaforex.com
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