Industrial production down in eurozone, EU in August

By Gokhan Ergocun

ISTANBUL (AA) - Both the euro area and EU posted annual declines in industrial production in August, the bloc's statistical body revealed on Friday.

The production dropped by 5.1% in the euro area and by 4.4% in the 27-member EU, according to Eurostat.

On a yearly basis, the production of durable consumer goods fell by 7.2%, capital goods by 7.0%, energy by 6.3%, intermediate goods by 5.2%, and non-durable consumer goods by 1.4% in the euro area in August.

On the EU side, production of durable consumer goods fell by 7.3%, energy by 6.7%, intermediate goods by 5.5%, and capital goods by 5.2%, while production of non-durable consumer goods remained stable.

Among member states, the largest annual decreases were posted by Ireland (-27.3%), Slovenia (-12.3%) and Estonia (-11.9%), while the highest increases were seen in Slovakia (+4.7%), Denmark (+3.5%), and Malta (+3.0%).