Industrial Production: Europe

Developments

https://ec.europa.eu/eurostat/documents/2995521/17490084/4-13092023-AP-EN.pdf/6966cc5c-6f8a-6225-ab1a-bb43090d6884?version=1.0

October 2023

In September 2023, the seasonally adjusted industrial production decreased by 1.1% in the euro area and by 0.9% in the EU, compared with August 2023, according to estimates from Eurostat, the statistical office of the European Union. In August 2023, industrial production increased by 0.6% in both the euro area and the EU.

	% change compared with previous month*						% change compared with same month of the previous year*
	Apr-23	May-23	Jun-23	Jul-23	Aug-23	Sep-23	Apr-23	May-23	Jun-23	Jul-23	Aug-23	Sep-23
Euro area
Total industry	1.2	0.0	0.1	-1.3	0.6	-1.1	-0.1	-2.4	-1.0	-2.2	-5.1	-6.9
Intermediate goods	-0.7	0.4	-0.9	0.0	-0.2	-0.3	-6.1	-5.5	-6.3	-5.1	-5.2	-4.5
Energy	-0.1	-2.1	0.5	1.2	-0.3	-1.3	-8.1	-6.7	-7.3	-6.0	-5.8	-5.8
Capital goods	13.0	0.7	0.0	-3.1	0.3	0.3	8.6	2.7	5.0	0.7	-7.0	-9.5
Durable consumer goods	-3.7	-1.1	-0.6	-1.3	0.8	-2.1	-5.0	-6.6	-6.3	-6.9	-8.6	-8.1
Non-durable consumer goods	-3.7	0.9	-1.4	0.7	0.5	-2.1	-0.8	-3.1	-0.2	-0.8	-1.8	-6.7
EU
Total industry	0.7	0.0	0.1	-1.2	0.6	-0.9	-0.1	-2.0	-1.1	-2.4	-4.4	-6.1
Intermediate goods	-0.7	0.3	-0.9	0.0	-0.1	-0.2	-6.4	-6.1	-6.7	-5.6	-5.6	-5.0
Energy	-0.4	-2.5	0.3	1.1	0.0	-1.0	-8.6	-8.0	-8.7	-7.7	-6.0	-5.5
Capital goods	10.6	0.7	-0.1	-2.6	-0.1	0.4	9.1	3.6	5.2	1.2	-5.3	-8.1
Durable consumer goods	-3.0	-1.0	-0.8	-1.2	0.8	-2.4	-6.4	-7.6	-7.4	-7.5	-8.5	-8.9
Non-durable consumer goods	-2.7	1.0	-0.6	-0.5	0.5	-1.2	0.9	-0.6	2.1	0.1	-0.4	-4.3

July 2023

Euro zone industrial production dropped much more than expected in July, underlining downward revisions of economic growth for this year in European Commission forecasts.

• The European Union's statistics office Eurostat said industrial production in the 20 countries sharing the euro fell 1.1% month-on-month in July for a 2.2% year-on-year decline. Economists polled by Reuters had expected a 0.7% monthly fall and a 0.3% year-on-year easing.
• The weaker than expected numbers were a result of sharp declines in the output of capital goods and durable consumer goods month-on-month, and durable consumer goods, energy and intermediate goods year on year.
• June 2023 has been revised from +0.5% to +0.4% in the euro area and remained unchanged at +0.4% in the EU. The annual percentage change has been revised from -1.2% to -1.1% in both the euro area and the EU.

	% change compared with previous month*						% change compared with same month of the previous year*
	Feb-23	Mar-23	Apr-23	May-23	Jun-23	Jul-23	Feb-23	Mar-23	Apr-23	May-23	Jun-23	Jul-23
Euro area
Total industry	1.8	-4.5	1.3	0.1	0.4	-1.1	1.7	-1.5	-0.1	-2.4	-1.1	-2.2
Intermediate goods	0.8	-1.1	-0.7	0.4	-1.0	0.2	-5.1	-4.6	-6.2	-5.6	-6.3	-5.0
Energy	0.8	-1.1	-0.1	-2.2	0.4	1.6	-4.4	-6.4	-8.1	-6.7	-7.3	-5.7
Capital goods	1.8	-15.4	15.3	1.1	-0.3	-2.7	9.6	-1.9	8.5	2.5	4.7	0.4
Durable consumer goods	-0.4	2.5	-2.8	-1.1	-0.5	-2.2	-3.0	0.4	-4.2	-5.8	-5.5	-6.7
Non-durable consumer goods	0.9	-0.6	-3.7	0.9	-1.4	0.4	4.0	6.1	-0.4	-2.7	0.2	-0.6
EU
Total industry	1.6	-3.8	1.0	0.0	0.4	-1.1	1.9	-1.3	-0.1	-2.0	-1.1	-2.4
Intermediate goods	0.3	-1.2	-0.7	0.3	-0.9	0.1	-5.4	-5.4	-6.5	-6.1	-6.6	-5.5
Energy	0.8	-1.3	-0.4	-2.5	0.2	1.5	-5.2	-9.1	-8.6	-8.0	-8.7	-7.4
Capital goods	1.7	-12.9	12.5	1.1	-0.3	-2.4	9.7	0.7	9.0	3.5	5.1	1.0
Durable consumer goods	-0.5	1.8	-2.3	-1.0	-0.7	-1.9	-4.8	-2.2	-5.7	-7.0	-6.7	-7.3
Non-durable consumer goods	1.8	-0.9	-2.8	1.1	-0.6	-0.8	6.6	6.5	1.1	-0.2	2.3	0.5