Euro zone industrial production increased by more than expected in May as output of capital and non-durable consumer goods picked up sharply during the month, data showed today.

The European Union statistics agency Eurostat said industrial production in the euro zone rose by 0.8% month-on-month and by 1.6% from a year earlier.

That compared with market expectations of rises of 0.3% from a month earlier and compared with May 2021.

During the month, production of non-durable consumer goods, such as food or clothing, rose 2.7% and capital goods, which typically reflect business investment, by 2.5%.

The latter was also up 0.9% year-on-year, having been down for the first four months of the 2022.

Durable consumer goods production, which has been sharply higher than in 2021, rose 1.4% in May. Output of intermediate goods was unchanged, while for energy it was down 3.3%.

Eurostat said the highest monthly increases were registered in Ireland and Greece, with the largest decreases in Lithuania, the Netherlands and Luxembourg.