Industrial production in euro area, EU fell 1.1% in May from April on seasonally adjusted basis; year-over-year, industrial production grew by 0.5% in euro area, 1.1% in EU: Eurostat

Cindy Allen

BRUSSELS , July 14, 2014 (press release) – In May 2014 compared with April 2014, seasonally adjusted industrial production1 fell by 1.1% in both the euro area2 (EA18) and the EU282, according to estimates from Eurostat, the statistical office of the European Union. In April 20143 industrial production rose by 0.7% in both zones.
In May 2014 compared with May 20134, industrial production grew by 0.5% in the euro area and by 1.1% in the EU28.

Monthly comparison by main industrial grouping and by Member State
The decrease of 1.1% in industrial production in the euro area in May 2014, compared with April 2014, is due to production of intermediate goods falling by 2.4%, non-durable consumer goods by 2.2%, durable consumer goods by 1.8% and capital goods by 0.5%, while energy increased by 3.0%.
In the EU28, the decrease of 1.1% is due to intermediate goods falling by 2.1%, non-durable consumer goods by 1.8%, durable consumer goods by 1.6% and capital goods by 1.0%, while energy increased by 2.2%.
The largest decreases in industrial production were registered in Portugal (-3.6%), Sweden (-3.2%) and Denmark (-2.1%), and the highest increases in Romania (+2.6%), Lithuania (+1.6%) and the Netherlands (+1.1%).

Annual comparison by main industrial grouping and by Member State
The increase of 0.5% in industrial production in the euro area in May 2014, compared with May 2013, is due to production of capital goods rising by 1.5%, non-durable consumer goods by 1.4% and intermediate goods by 0.4%, while durable consumer goods fell by 0.3% and energy by 3.1%.
In the EU28, the increase of 1.1% is due to production of capital goods rising by 2.2%, both intermediate goods and non-durable consumer goods by 1.4%, and durable consumer goods by 0.7%, while energy fell by 2.9%.
The highest increases in industrial production were registered in Romania (+15.0%), Lithuania (+10.2%) and Hungary (+9.5%), and the largest decreases in Malta (-11.9%), France (-4.2%) and Finland (-2.9%).

1. The index of industrial production measures the evolution of the volume of production for industry excluding construction, based on data adjusted for working day and seasonal effects. Seasonally adjusted euro area and EU series are calculated by aggregating the seasonally adjusted national data. Eurostat carries out the seasonal adjustment of the data for those countries that do not adjust their data for seasonal effects. Missing observations from Member States for recent months are estimated for the calculation of the euro area and the EU.
The weights of the Member States in the EU and euro area aggregates can be found at:
https://circabc.europa.eu/w/browse/5e6d1e48-056c-4c6a-8278-3ab138bcf575
See file: EU-28_EA-18_NEWS_RELEASE_WEIGHTINGS_2010
More detailed data can be found in the short-term statistics database on the Eurostat website:
http://epp.eurostat.ec.europa.eu/portal/page/portal/short_term_business_statistics/data/database
2. The euro area (EA18) includes Belgium, Germany, Estonia, Ireland, Greece, Spain, France, Italy, Cyprus, Latvia, Luxembourg, Malta, the Netherlands, Austria, Portugal, Slovenia, Slovakia and Finland.
The European Union (EU28) includes Belgium, Bulgaria, the Czech Republic, Denmark, Germany, Estonia, Ireland, Greece, Spain, France, Croatia, Italy, Cyprus, Latvia, Lithuania, Luxembourg, Hungary, Malta, the Netherlands, Austria, Poland, Portugal, Romania, Slovenia, Slovakia, Finland, Sweden and the United Kingdom. The tables also include Norway.

3. Data of previous months have been revised compared to those issued in the News Release 88/2014 of 12 June 2014. The monthly growth rates for April 2014 have been revised from +0.8% to +0.7% for the EA18 and remained unchanged at +0.7% for the EU28. The annual growth rates remained unchanged at +1.4% for the EA18 and at +2.1% for the EU28.

4. Based on data adjusted for working days.

* All content is copyrighted by Industry Intelligence, or the original respective author or source. You may not recirculate, redistrubte or publish the analysis and presentation included in the service without Industry Intelligence's prior written consent. Please review our terms of use.