Latest data released by Eurostat - 12 May 2021

  • Prior -1.0%; revised to -1.2%
  • Industrial production +10.9% vs +11.8% y/y expected
  • Prior -1.6%; revised to -1.8%

Not much change in factory output towards the end of Q1 but the year-on-year reading shows a big jump though that owes mostly to base effect adjustments, considering the plunge seen at the start of the pandemic in March last year.

The jumps in production of non-durable consumer goods (1.9%), energy (1.2%) and intermediate goods (0.6%) were offset by falls in capital goods production (1.0%) and durable goods (1.2%) during the month of March.