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Euro zone industrial output rises beyond expectations in May

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FILE PHOTO: An employee works on the production line at the Aube Tricotage factory in Sainte-Savine

BRUSSELS (Reuters) - Euro zone industrial production increased by more than expected in May as output of capital and non-durable consumer goods picked up sharply during the month, data showed on Wednesday.

The European Union statistics agency Eurostat said industrial production in the 19 countries sharing the euro single currency rose by 0.8% month-on-month and by 1.6% from a year earlier.

That compared with market expectations of rises of 0.3% from a month earlier and compared with May 2021.

During the month, production of non-durable consumer goods, such as food or clothing, rose 2.7% and capital goods, which typically reflect business investment, by 2.5 percent. The latter was also up 0.9% year-on-year, having been down for the first four months of the 2022.

Durable consumer goods production, which has been sharply higher than in 2021, rose 1.4% in May. Output of intermediate goods was unchanged, while for energy it was down 3.3%.

The highest monthly increases were registered in Ireland and Greece, with the largest decreases in Lithuania, the Netherlands and Luxembourg.

(Reporting by Charlotte Van Campenhout; editing by Philip Blenkinsop)

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