Eurozone production triples in June than expected

A Stellantis employee works on the e-DCT electrified automatic transmission assembly line at the automaker’s Stellantis plant in Metz, France, June 29, 2022. (Gilles Guillaume/Reuters)

BRUSSELS—Eurozone industrial production tripled more than expected in June, as data showed on Friday, largely thanks to a surge in output of capital goods.

Industrial production in the 19 countries that share the euro rose 0.7% month-on-month in June and 2.4% year-on-year, according to Eurostat, the European Union’s statistical office.

Economists polled by Reuters had expected growth of 0.2% for the month and 0.8% from a year earlier.

Production of capital goods, including machinery, equipment, vehicles and tools, rose 2.6% month-on-month and 7.6% on an annual basis, according to Eurostat.

This helped offset the 0.1% monthly and 0.5% year-on-year declines in intermediate goods production and the 3.2% monthly and 1.1% annual declines in non-durable consumer goods production.

Jan Stolpczewski