Industrial Production Decline in Eurozone and EU
In the month of May, industrial production in the eurozone dropped by 2.9% and by 2.5% in the European Union compared to the same period in 2023, with Romania experiencing the most severe decline, according to data published by the European Statistical Office (Eurostat).
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Among EU member states for which data is available, the most significant increases in industrial production in May compared to the same period in 2023 were in Denmark (9.6%), Ireland (8.7%), and Greece (6.8%), while the most significant declines were in Romania (minus 6.9%), Germany (minus 6.6%), and Bulgaria (minus 6.3%), as reported by Agerpres.
In the case of the EU, the production of intermediate goods decreased by 3.1%, while the production of capital goods decreased by 2.6%, highlighting ongoing challenges in the industrial sector.
Industrial Production in the European Union
In the European Union, industrial production experienced a slight decrease in May compared to the previous month. The production of durable goods decreased by 4.1%, while energy production increased by 1.2% and the production of non-durable goods by 3.3%.
Within the EU member states, notable increases were recorded in Ireland (6.7%), Luxembourg (3.9%), and Estonia (3.8%), while significant decreases were seen in Slovenia (minus 7.3%), Romania (minus 6.2%), and Denmark (4.9%).
When looking at the different categories of goods, the production of intermediate goods decreased by 1%, capital goods by 1.2%, durable goods by 2.1%, while energy production increased by 0.4% and non-durable goods by 6.3%.
Overall, the industrial production trends in the European Union show a mixed picture, with some countries experiencing growth while others are facing declines in production levels.
Industrial Production in Romania Decreased in May
According to data published by the National Institute of Statistics (INS) on Friday, in May compared to the same month of the previous year, Romania’s industrial production (gross series) decreased by 11.1%. This drop was mainly driven by activities in the industrial sectors of electricity and thermal energy production and supply, gas, hot water, and air conditioning (-12.1%), manufacturing industry (-11.5%), and extractive industry (-1.8%).
Similarly, in the same reference period, as an adjusted series, industrial production recorded a decline of 6.5%, due to electricity and thermal energy production and supply, gas, hot water, and air conditioning (-11.2%), manufacturing industry (-6.5%), and extractive industry (-1.4%).
According to the source, in May of the current year, compared to April 2024, industrial production (gross series) decreased by 8.8%, and as an adjusted series by 6.3%.
