EU’s monthly industrial production up in August

By Emir Yildirim

ISTANBUL (AA) – The EU’s industrial production rose by 1.3% month-on-month in August, according to data from the regional statistical bureau Eurostat on Tuesday.

The highest monthly industrial production increases were recorded in Ireland, up 4.5%, followed by Germany and Lithuania with 3.3%, and Malta with 2.7%.

Meanwhile, Luxembourg saw the largest monthly decline in industrial production, with minus 9.2%, followed by Croatia with minus 4.6%, and Denmark with 4.5%.

Over the same period, industrial production for intermediate goods fell 0.2%, and non-durable consumer goods dropped 0.4%, while energy increased 0.2%, capital goods rose 3.6%, and durable consumer goods grew 1.4%.

In the eurozone, industrial production increased by 1.8% on a monthly basis in August, with the highest increase in capital goods, up 3.7%, while industrial production for intermediate goods fell 0.3%.

On an annual basis, industrial production in the EU and the eurozone climbed 0.2% and 0.1%, respectively, in August.

“The highest annual increases were recorded in Ireland (+15.8%), Denmark (+10.7%), and Slovenia (+7.2%). The largest decreases were observed in Luxembourg (-11.7%), Estonia (-6.0%), and Hungary (-4.2%),” said Eurostat.

In the EU, industrial production for intermediate goods and durable consumer goods fell 2.4% and 3.9%, respectively, while industrial production for energy increased 2.2%, capital goods rose 0.2%, and non-durable consumer goods grew 3.1%.

As for the eurozone, annual industrial production for durable consumer goods saw the largest decline at 4.8%, while the highest increase was in energy, up 2.6%.

The eurozone, or EA19, represents member states that use the bloc’s single currency, the euro, while the EU27 includes all member countries.