Eurozone industrial production unexpectedly fell in April, official data showed on Thursday.
according to EurostatSeasonally adjusted industrial production in the single currency area fell 0.1 percent, Eurostat said, after rising 0.5 percent in March. Analysts had expected a smaller increase of 0.2 percent.
Across the EU, industrial production increased by 0.5%.
The biggest declines in both sectors were in intermediate goods, with production falling by 0.2% in the EU and 0.4% in the euro area.
Among member states, Germany, Europe's largest economy, reported a 0.3% increase in industrial production. In France, output rose 0.6%, while in Spain it remained stable and in Italy it fell 1%.
Year-on-year, industrial production in the euro zone fell 3%, well above analysts' expectations of a 1.9% decline, and the euro zone as a whole fell 2%.
Leo Barincow, Senior Economist Oxford EconomicsIrish industrial output fell 3.4% in April, but he said this was due to a notable recovery in Ireland's “shaky” industrial output.
Overall, he continued, “Today's print is dull, but we're still [Europe’s] The industrial sector hit bottom in the first quarter and will soon record sustained growth. In the short term, the industry will benefit from a turn in the inventory cycle as companies rebuild their inventories. Gradual monetary easing will also be a major tailwind.”
