According to the latest data from Eurostat, total industrial production (IP) in the EU declined by -0.8% compared to April, with a fall of -0.6% for the Euro-zone. Compared to May 2023, total IP decreased by -2.5% in the EU and by -2.9% for the Euro-zone.
The 3-month rolling trends calculated from the monthly indices published by Eurostat (these have now been re-based to 2021=100) show that total IP in the EU in the latest 3 months (March, April & May 2024) was -0.5% lower than in the previous period (December 2023, January & February 2024); for the Euro-zone, there was a reduction of -0.4%.
Within the total, the sub-set of the capital goods industries saw a month-on-month fall in output of -1.2% for both the EU and the Euro-zone; this was the second weakest of the sub-sectors with only durable consumer goods output seeing a larger reduction. Compared to a year earlier (May 2023), total IP fell by -6.3% for the EU and -6.5% for the Euro-zone; in both cases, the capital goods group had the largest decline in output on this measure.
Staying with the 12-month trends, of the 27 Member States, total IP increased in 9, was unchanged in one (Slovakia) and declined in 17. The strongest growth was in Denmark (+9.6%), Ireland (+8.7%) and Greece (+6.8%) while the most significant reductions were in Romania (-6.9%), Germany (-6.6%) and Bulgaria (-6.3%).
You can get the full details from the Eurostat News Release which can be downloaded from their website at https://ec.europa.eu/eurostat/news/euro-indicators (15 July) or requested from MTA.