Industrial Production Down by 3.7% in Euro Area


In November 2012 compared with November 2011, industrial production dropped by 3.7% in the euro area and by 3.3% in the EU27. In November 2012 compared with October 2012, seasonally adjusted industrial production fell by 0.3% in both the euro area and the EU27, according to estimates released by Eurostat, the statistical office of the European Union. In October production decreased by 1.0% and 0.8% respectively.

In November 2012 compared with November 2011, production of durable consumer goods fell by 7.7 percent in the euro area and by 6.8 percent in the EU27. Intermediate goods dropped by 4.8 percent and 4.3 percent respectively. Capital goods decreased by 4.4 percent in the euro area and by 3.7 percent in the EU27. Non-durable consumer goods declined by 3.0 percent and 2.7 percent respectively. Production of energy increased by 0.5 percent in the euro area, but fell by 0.6 percent in the EU27. Among the Member States for which data are available, industrial production fell in sixteen and rose in five. The largest decreases were registered in Italy (-7.6 percent), Spain (-7.2 percent) and Ireland (-6.6 percent), and the highest increases in Lithuania (+8.9 percent), Estonia (+6.5 percent) and Malta (+6.1 percent). 

In November 2012 compared with October 2012, production of energy fell by 1.6 percent in the euro area and by 0.7 percent in the EU27. Non-durable consumer goods decreased by 1.2 percent in both zones. Production of durable consumer goods declined by 1.1 percent in the euro area and by 1.4 percent in the EU27. Intermediate goods dropped by 0.3 percent and 0.4 percent respectively. Capital goods grew by 0.7 percent in the euro area and by 0.5 percent in the EU27. Among the Member States for which data are available, industrial production fell in fourteen and rose in seven. The largest decreases were registered in Slovenia (-4.0 percent), Portugal (-3.4 percent) and Spain (-2.5 percent), and the highest increases in Estonia (+4.7 percent), Latvia and the Netherlands (both +1.0 percent).
 

Eurostat | Nuno Fontes | nuno@tradingeconomics.com
1/14/2013 10:06:18 AM