Industrial production up by 0.6% MoM in euro area, EU in Aug

In July this year, industrial production decreased by 1.3 per cent in both the euro area and the EU. In August, industrial production decreased by 5.1 per cent YoY in the euro area and by 4.4 per cent YoY in the EU.

In the euro area in August, production of durable consumer goods, non-durable consumer goods and capital goods grew by 1.2 per cent, 0.5 per cent and 0.3 per cent MoM respectively, while production of intermediate goods fell by 0.3 per cent MoM and that of energy by 0.9 per cent MoM.

In the EU, production of durable consumer goods, non-durable consumer goods and capital goods grew by 1.2 per cent, 0.7 per cent and 0.1 per cent respectively, while production of intermediate goods fell by 0.2 per cent MoM and that of energy by 0.5 per cent.

The highest monthly increases were registered in Ireland (6.1 per cent), Slovakia (4.5 per cent) and Lithuania (3.7 per cent). The largest decreases were observed in Hungary (minus 2.4 per cent), Croatia (minus 2.2 per cent) and Belgium (minus 1.8 per cent), an Eurostat release said.

In the euro area in August, production of durable consumer goods, capital goods, energy, intermediate goods and non-durable consumer goods fell by 7.2 per cent, 7 per cent, 6.3 per cent, 5.2 per cent and 1.4 per cent YoY respectively.

In the EU, production of durable consumer goods, energy, intermediate goods and capital goods fell by 7.3 per cent, 6.7 per cent, 5.5 per cent and 5.2 per cent YoY respectively, while production of non-durable consumer remained stable.

The largest annual decreases were registered in Ireland (minus 27.3 per cent), Slovenia (minus 12.3 per cent) and Estonia (minus 11.9 per cent). The highest increases were observed in Slovakia (4.7 per cent), Denmark (3.5 per cent) and Malta (3 per cent).

ALCHEMPro News Desk (DS)