# Euro zone industry output falls sharply, with Ireland plunge
Author:  Pal Sinha, Barnali 
Author URL: https://financedigest.com/author/pal-sinha-barnali
Published: 2023-05-15
Category: NEWS
Category URL: https://financedigest.com/category/news
Meta Title: Euro Zone Industrial Output Plunge: Ireland Hit Hard
Meta Description: Euro zone industrial production falls sharply in March as output of capital goods plunges, with Ireland experience a significant decline according to Eurostat.
URL: https://financedigest.com/euro-zone-industry-output-falls-sharply-with-ireland-plungehtml

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# Euro zone industry output falls sharply, with Ireland plunge

BRUSSELS (Reuters) – Euro zone industrial production fell by far more than expected in March as output of capital goods plunged, although the sharp reduction appeared to be a result of figures from Ireland, which are typically volatile.

The European Union’s statistics office Eurostat said on Monday that industrial production in the 20 countries sharing the euro fell by 4.1% month-on-month in March for a 1.4% year-on-year decline.

Economists polled by Reuters had expected a 2.5% monthly decrease and a 0.9% year-on-year gain.

[Industrial production](https://www.financedigest.com/carlsbergs-poland-unit-could-stop-production-lack-of-co2-threatens-food-industry.html "Carlsberg’s Poland unit could stop production; lack of CO2 threatens food industry") in Ireland fell 26.3% in the month and by 26.1% from a year earlier. Eurostat noted that Ireland’s Central Statistics Office was reviewing its methodology for calculating the seasonal adjustment for [industrial output](https://www.financedigest.com/german-industrial-output-slumps-recession-fears-rise.html "German industrial output slumps, recession fears rise").

Eurostat said the output of capital goods – goods such as buildings and equipment used to make products and [provide services](https://www.financedigest.com/unprecedented-constructive-disruption-to-drive-the-sleep-service-providers-market.html "Unprecedented, constructive disruption to drive the Sleep Service Providers Market") – fell by 15.4% on the month. Year-on-year, the decline was 2.1%.

All other components of [industrial production](https://www.financedigest.com/polyols-and-sorbitols-products-market-industry-research-segmentation-key-players-analysis-and-forecast-to-2029.html "Polyols and Sorbitols Products Market Industry Research, Segmentation, Key Players Analysis and Forecast to 2029") declined, except that of durable consumers goods, which roes 2.8% in the month, although was down 0.8% from a year earlier.

For Eurostat release, click on:

http://ec.europa.eu/eurostat/news/news-releases

(Reporting by Philip Blenkinsop)


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