Industrial production posts strong decline in EU, eurozone in Jan

On annual basis, largest declines seen in Ireland, Estonia, and Bulgaria

By Gokhan Ergocun

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

Production fell 6.7% in the euro area and 5.7% in the EU year-on-year in January, Eurostat said.

Industrial production in the eurozone was down 12.1% for capital goods, 8.4% for durable consumer goods, 3.1% for non-durable consumer goods, 2.5% for intermediate goods, and 0.3% for energy.

On the EU side, production was down 10.1% for capital goods, 8.1% for durable consumer goods, 3.3% for intermediate goods, 1.3% for non-durable consumer goods, 0.6% for energy.

Among member states, the largest annual decreases were seen in Ireland (34.1%), Estonia (8.6%), and Bulgaria (7.6%), and the highest increases were in Slovenia (12.2%), Greece (10.5%), and Denmark (5.3%).

On a monthly basis, industrial production fell 3.2% in the euro area and 2.1% 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.

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