Industrial production in Euro area dips 1.4% YoY in Mar 2023

In February 2023, industrial production increased by 1.5 per cent in the euro area and by 1.4 per cent in the EU, Eurostat, the statistical office of the EU, said in a press release.

In the euro area in March 2023, compared with February 2023, production of intermediate goods fell by 1.8 per cent, energy by 0.9 per cent, and non-durable consumer goods by 0.8 per cent, while production of durable consumer goods rose by 2.8 per cent.

In the EU, production of intermediate goods fell by 1.6 per cent, non-durable consumer goods by 1.3 per cent, and energy by 1.0 per cent, while production of durable consumer goods rose by 2.0 per cent.

Among member states for which data are available, the largest monthly decreases were registered in Ireland at -26.3 per cent, Sweden at -3.9 per cent, and Germany at -3.1 per cent. The highest increases were observed in Finland at 3.0 per cent, Slovenia at 2.3 per cent, and Czechia and Slovakia—both 1.7 per cent.

In the euro area in March 2023, compared with March 2022, production of energy fell by 6.1 per cent, intermediate goods by 4.7 per cent, and durable consumer goods by 0.8 per cent, while production of non-durable consumer goods rose by 6.8 per cent.

In the EU, production of energy fell by 9.1 per cent, intermediate goods by 5.6 per cent, and durable consumer goods by 3.1 per cent, while production of non-durable consumer goods rose by 7.1 per cent.

Among member states for which data are available, the largest annual decreases were registered in Ireland at -26.1 per cent, Lithuania at -16.6 per cent, and Estonia at -12.6 per cent. The highest increases were observed in Malta at 12.5 per cent, Denmark at 8.9 per cent, and Spain at 5.6 per cent.

ALCHEMPro News Desk (NB)