Australia markets closed

    +96.30 (+1.26%)

    -0.0001 (-0.01%)
  • ASX 200

    +98.80 (+1.34%)
  • OIL

    -0.79 (-1.07%)
  • GOLD

    -6.20 (-0.34%)

    -2,714.09 (-4.75%)
  • CMC Crypto 200

    +21.52 (+2.27%)

Euro zone production stronger than expected in April

·1-min read
FILE PHOTO: A steel worker of Germany's industrial conglomerate ThyssenKrupp AG takes a sample of raw iron from a blast furnace at Europe's largest steel factory in Duisburg

BRUSSELS (Reuters) - Euro zone industrial production was stronger than expected in April, driven by a more than doubling of durable consumer goods output from a year earlier as economies steadily reopened after COVID-19 pandemic lockdowns, data showed on Monday.

The European Union's statistics office Eurostat said industrial output in the 19 countries sharing the euro rose 0.8% month-on-month for a 39.3% year-on-year surge.

Economists polled by Reuters had expected a 0.4% monthly and a 37.4% annual jump.

The biggest production gain in April against March was in durable consumer goods, where output rose 3.4% after 1.2% monthly declines in both February and March.

In year-on-year terms, the gain in durable consumer goods output was a spectacular 117.3% after a 34.5% annual rise in March, with capital goods also surging 65.4% year-on-year and intermediate goods up 38.7%.

(Reporting by Jan Strupczewski; editing by Philip Blenkinsop)

Our goal is to create a safe and engaging place for users to connect over interests and passions. In order to improve our community experience, we are temporarily suspending article commenting