Eurozone May industrial production -1.0% vs -0.3% m/m expected

Latest data released by Eurostat - 14 July 2021

• Prior +0.8%
• Industrial production WDA +20.5% y/y
• Prior +39.3%

Supply chain disruptions are the likely culprit for the drop in May, with chip shortages a key factor in that sense, as pointed out by economist, Christophe Barraud here.

The details show that non-durable consumer goods output fell by 2.3%, energy down 1.9%, capital goods down 1.6%, and intermediate goods down 0.2% on the month.