Euro area's industrial production up 0.9% YoY in Jan 2023

In December 2022, industrial production decreased by 1.3 per cent in the euro area and by 0.6 per cent in the EU, Eurostat, the statistical office of the European Union, said in a press release.

In the euro area in January 2023, compared with December 2022, production of intermediate goods grew by 1.5 per cent, while production of durable consumer goods fell by 0.7 per cent, energy by 0.8 per cent, and non-durable consumer goods by 2.1 per cent.

In the EU, production of intermediate goods grew by 1.1 per cent, energy remained stable, while production of durable consumer goods fell by 0.9 per cent and non-durable consumer goods by 3.2 per cent.

Among member states for which data are available, the highest monthly increases were registered in Ireland at 9.3 per cent, Sweden at 5.0 per cent, and Romania at 2.0 per cent. The largest decreases were observed in Denmark at -7.1 per cent, Hungary at -5.0 per cent, and the Netherlands at -4.3 per cent.

In the euro area in January 2023, compared with January 2022, production of non-durable consumer goods rose by 3.2 per cent, while production of durable consumer goods fell by 0.6 per cent, intermediate goods by 5.3 per cent, and energy by 7.6 per cent.

In the EU, production of non-durable consumer goods rose by 4.7 per cent, while production of durable consumer goods fell by 2.5 per cent, intermediate goods by 5.3 per cent, and energy by 7.1 per cent.

Among member states for which data are available, the highest annual increases were registered in Ireland at 19.5 per cent, Denmark at 14.2 per cent, and Malta at 12.4 per cent. The largest decreases were observed in Lithuania at -12.0 per cent, Latvia at -9.8 per cent, and Slovakia at -8.6 per cent.

ALCHEMPro News Desk (NB)