Eurozone Records Drop in August Industrial Output
(MENAFN) Industrial activity in the euro area recorded a significant drop in August, according to fresh data released on Wednesday by Eurostat, the European Union's official statistics agency.
Output across the 20-nation eurozone fell by 1.2% month-on-month, while the wider EU bloc of 27 countries also experienced a decline, with production slipping 1% during the same period.
The downturn was led by steep monthly contractions in several key economies. Germany—Europe’s industrial powerhouse—posted the most pronounced fall at minus 5.2%, followed by Greece with a 4.5% decline and Austria down by 3.1%.
In contrast, some member states registered notable gains. Ireland saw a sharp rebound, with industrial production rising 9.8%. Positive momentum was also reported in Luxembourg (4.8%) and Sweden (3.6%).
Despite the monthly setbacks, year-on-year figures painted a more stable picture. In annual terms, industrial production in both the euro area and the EU climbed 1.1% in August, suggesting that underlying output remains resilient amid broader economic headwinds.
The figures come as policymakers and investors closely watch signs of slowing economic momentum across Europe, driven by weakened global demand, rising borrowing costs, and persistent inflation pressures.
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