Euro Area Industrial Production Mom

Industrial production in the Euro Area fell 1% mom in May of 2021, the first drop in 3 months and much worse than market forecasts of a 0.2% decline. Decreases were seen in production of non-durable consumer goods (-2.3%), energy (-1.9%), capital goods (-1.6%) and intermediate goods (-0.2%). In contrast, output rose 1.6% for durable consumer goods. Among the bloc's largest economies, industrial production declined in Germany (-0.6%), France (-0.3%), Italy (-1.5%) and Spain (-0.8%).