Friday, October 23, 2009

Eurozone Industrial Production: Strong, but Split

The Good

Interactive Investor with the details:

"Euro zone industrial orders encouragingly rose by a larger-than-expected 2.0 percent month-on-month in August, thereby achieving a fourth successive increase. The underlying improvement was highlighted by the fact that euro zone industrial orders jumped by 7.1 percent in the three months to August compared to the three months to May.
The Not So Good
"However, it should be noted that August's rise in euro zone industrial orders was highly dependent on a 3.8 percent month-on-month increase in demand for intermediate goods while there were falls in orders for consumer goods and capital goods. Furthermore, euro zone industrial orders were still down by 23.1 percent year-on-year in August.
The Worrisome
The bifurcation between the "haves" and "have nots". While overall, the Euro Area was up 2% in August, countries were more than split to the downside.


Source: EuroStat