Eurozone industrial production holds steady in June, beats expectations

Industrial production in the euro area remained unchanged in June from the previous month, while edging higher on an annual basis and beating market expectations, Eurostat said Thursday.

Production increased 0.1% from a year earlier, compared with economists' expectations of a 0.8% contraction.

In May, industrial output rose 0.3% month-on-month but fell 0.1% annually.

Among the main industrial groups, production of non-durable consumer goods recorded the strongest monthly increase in June, rising 3%, followed by energy at 1.5%.

Capital goods output fell 1.4% and intermediate goods production declined 0.8%, while durable consumer goods output increased 0.3%.

Across the EU, industrial production rose 0.2% month-on-month and 0.6% year-on-year.

Among member states, Denmark posted the largest monthly increase at 5.4%, followed by Croatia at 5.2%, while Lithuania and Finland each recorded gains of 2.1%.

The steepest monthly declines were recorded in Luxembourg at 10.7%, Portugal at 3.9% and Estonia at 2.2%.

On an annual basis, Lithuania recorded the strongest growth at 7.7%, while Luxembourg posted the largest decline at 7.9%.