Industrial production makes gains in Europe

Industrial production rose 1 percent July to August in the eurozone and 0.5 percent in the European Union, the EU statistical office reported Monday. Production rose after modest July drops of 1 percent in the 17-member currency region and 0.6 percent in the 28-member EU, Eurostat said. Compared to August 2012, production fell 2.1 percent in the eurozone and 1.6 percent in the EU. From July, durable goods production rose by 0.8 percent in the eurozone, but fell 0.9 percent in the EU. Capital goods production rose by 2.4 percent and 1.4 percent in the eurozone and the EU, respectively. Energy production, meanwhile, rose 0.4 percent and 0.2 percent from July in the respective regions. Production of non-durable goods -- goods not expected to last three years -- rose by 0.5 percent in the currency region and fell 0.3 percent in the larger EU. Eurostat said industrial production in the month rose in 13 member states and fell in 10. Data was incomplete in the remaining states. Gains were paced by Portugal, Malta and the Czech Republic with gains of 8.2 percent, 7.2 percent and 4.7 percent, respectively. Declines were sharpest in Estonia, Sweden and Latvia.