Industrial production down by 0.7% in Euro Area

August 24, 2018

According to the latest report published by Eurostat, the statistical office of the European Union, “In June 2018, compared with May 2018, industrial production fell by 0.7% in the euro area (EA19) and by 0.4% in the EU28.” However, in June 2018 industrial production increased by 1.4% in the euro area and by 1.3% in the EU28.

Additionally, the report mentioned that in May 2018, compared with May 2017, industrial production increased by 2.4% in both the euro area and EU28.

Annual comparison by main industrial grouping and by Member State

The 2.5% increase in industrial production in the euro area in June 2018, compared with June 2017, is due to rises of 4.3% in the production of capital goods, 2.8% for non-durable consumer goods, intermediate goods by 1.8% and durable consumer goods by 0.9% . On the contrary, energy production fell by 2.8%.

“In the EU28, the 2.6% price increase is due to rises of 4.4%, 3.1%, 2.2% and 2.1% increase in the production of capital goods, non-durable consumer goods, durable consumer goods and intermediate goods, respectively.” However, there was a fell in the production of energy by 2%.

Notably, the largest increases in industrial production were observed in the Ireland (+7.7%), Romania (+7.0%), the Czech Republic (+6.9%) and Poland (6.7%). On the other hand, decreases were observed in Denmark (-1.2%), Portugal (-1.0%) and the Netherlands (-0.2%).

 

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2018-08-24T20:55:56+00:00