Eurozone Industrial Output Recovers In May

(RTTNews) - Eurozone industrial production recovered in May, underpinned by strong rebound in non-durable consumer goods output, data from Eurostat showed on Tuesday.

Industrial output grew at a faster-than-expected pace of 1.7 percent on a monthly basis in May, in contrast to the 2.2 percent decrease in April. Economists had forecast a 0.6 percent rise.

Within main industrial grouping, production of non-durable consumer goods surged 8.5 percent. Output of capital goods and energy gained 2.7 percent and 3.7 percent, respectively.

Meanwhile, intermediate goods output fell 1.7 percent and durable consumer goods output eased 1.9 percent.

On a yearly basis, growth in industrial production accelerated to 3.7 percent from 0.2 percent in the previous month. Output was forecast to climb 2.9 percent.

Industrial production in the EU27 climbed 1.5 percent month-on-month in May and expanded 3.4 percent from the previous year.

The highest monthly increases in EU were recorded in Ireland, Malta and Germany. Meanwhile, the largest decreases were seen in Croatia, Slovakia and Belgium.