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Industrial Production Down by 1.9% in Euro Area
added: 2008-07-14

In May 2008 compared with April 2008, seasonally adjusted industrial production fell by 1.9% in the euro area (EA15) and by 1.4% in the EU27. In April production grew by 1.0% and 0.3% respectively. In May 2008 compared with May 2007, industrial production decreased by 0.6% in the euro area and by 0.5% in the EU27.

Monthly comparison

In May 2008 compared with April 2008, production of non-durable consumer goods fell by 1.2% in the euro area and by 1.1% in the EU27. Intermediate goods dropped by 1.4% and 1.0% respectively. Capital goods declined by 2.4% in the euro area and 2.1% in the EU27. Energy fell by 2.7% and 1.8% respectively. Durable consumer goods decreased by 3.3% in the euro area and by 2.3% in the EU27.

Among the Member States for which data are available for May 2008, industrial production fell in eighteen and only rose in Ireland (+13.3%), Bulgaria (+3.3%) and Romania (+0.5%). The most significant falls were registered in Lithuania (-7.5%), the Netherlands (-6.0%), Portugal (-5.7%) and Latvia (-5.6%).

Annual comparison

In May 2008 compared with May 2007, production of capital goods increased by 2.2% in the euro area and by 1.9% in the EU27. Intermediate goods fell by 0.6% in both zones. Energy dropped by 1.2% in the euro area and by 1.1% in the EU27. Non-durable consumer goods declined by 3.2% and 2.8% respectively. Durable consumer goods decreased by 5.2% in the euro area and by 2.6% in the EU27.

Among the Member States for which data are available for May 2008, industrial production rose in twelve and fell in nine. The highest increases were registered in Ireland (+9.2%), Bulgaria (+8.6%) and Denmark (+7.4%), while the most significant decreases were recorded in Latvia (-8.1%), Estonia (-6.7%) and Greece (-6.6%).


Source: European Commission

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