Eurozone Industrial Output Grows 0.2% in March as Energy Costs Surge

According to Eurostat data released on May 13, eurozone industrial output rose 0.2% month-on-month in March, matching February's growth rate. The uptick partly reflects companies accelerating production and stockpiling to preempt rising energy costs and potential supply disruptions stemming from Middle East tensions.

Middle East conflict has driven oil and gas prices higher, intensifying pressure on energy-dependent eurozone manufacturers. European Commission President Ursula von der Leyen stated in late April that the EU has spent an additional 27 billion euros on energy imports since the conflict began.