Industrial production declines in EU, eurozone in May

By Sahika Olgun

ISTANBUL (AA) - Industrial production dropped in the EU and eurozone in May, the 27-member bloc's statistical authority said on Monday.

Production fell 2.9% in the euro area and 2.5% in the EU year-on-year in May, Eurostat said.

Industrial production in the eurozone was down 6.5% for capital goods, 4.2% for durable consumer goods, and 3.5% for intermediate goods, while it was up 2.8% for non-durable consumer goods, and 0.7% for energy.

On the EU side, production was down 6.3% for capital goods, 4.1% for durable consumer goods, and 3.1% for intermediate goods, while it was up 3.3% for non-durable consumer goods, and 1.2% for energy.

Among member states, the largest annual decreases were recorded in Romania (6.9%), Germany (6.6%), and Bulgaria (6.3%), and the highest increases were in Denmark (9.6%), Ireland (8.7%), and Greece (6.8%).

On a monthly basis, industrial production fell 0.6% in the euro area and 0.8% in the EU.

The eurozone/euro area, or EA19, represents member states that use the single currency – the euro – while the EU27 includes all member countries of the bloc.