In June industrial production in 19 countries of the Eurozone markedly declined, as the production of capital and durable goods fell after a sharp increase in the previous month. On Monday it was announced by the European Statistical Office Eurostat.

The largest decline in production activity was recorded in Ireland and Malta, the two largest Eurozone economies – Germany and France – also showed a decline. However, Italy and the Netherlands showed an increase of monthly production volume. Overall industrial production in the Eurozone in June fell 0.6 percent from the previous month, but increased by 2.6 percent year on year. The rate remained below the forecast decline of 0.5 percent.

After the May growth of 2.2 percent compared to April, capital goods production declined by 1.9 percent. The durable goods production in June fell by 1.2 percent after a 1.4 percent increase in May. In May, Eurostat revised their overall estimates of industrial production growth down by 10 basis points, to 1.2 percent month-on-month and 3.9 percent year on year.