Just out from Markit, the latest sign the global economy isn’t collapsing, this time from Europe!EZ industrial production was up 1.2% m/m in August (f’cast: -0.7%). July revised to 1.1% growth.
In August 2011 compared with July 2011, production of capital goods grew by 2.1% in the euro area and by 1.6%
in the EU27. Intermediate goods rose by 1.7% and 1.4% respectively. Non-durable consumer goods increased by
1.1% in the euro-area and by 0.7% in the EU27. Production of energy remained stable in the euro area and gained 0.3% in the EU27. Durable consumer goods remained stable in both zones.
Among the Member States for which data are available, industrial production rose in twelve and fell in 10.
The largest increases were registered in Portugal (+8.2%), Ireland (+4.4%) and Italy (+4.3%), and the highest decreases in Denmark (-3.0%), Sweden (-2.7%) and Bulgaria (-2.1%).
And here’s a long-term chart: