Industrial production falls 1.9% in EU & 2% in euro area in Oct 2022

18 Dec '22

2 min read

Pic: Shutterstock

The European Union’s seasonally adjusted industrial production fell by 1.9 per cent in October 2022, while euro area’s industrial production fell by 2 per cent, compared to September 2022, as per the estimates from Eurostat, the statistical office of the EU. On a year-on-year (YoY) basis, industrial production increased 3.7 per cent in the EU and 3.4 per cent in the euro area.

In September 2022, industrial production increased by 0.8 per cent in the euro area and by 0.7 per cent in the EU.

In the euro area in October 2022, compared with September 2022, production of energy fell by 3.9 per cent and intermediate goods by 1.3 per cent, while production of non-durable consumer goods rose by 0.3 per cent, according to the data by Eurostat.

In the EU, production of energy fell by 3.5 per cent and intermediate goods by 1.2 per cent, while production of non-durable consumer goods rose by 0.2 per cent.

Among member states for which data are available, the largest monthly decreases were registered in Ireland (10.7 per cent), Luxembourg (4.4 per cent), and Czechia (3.7 per cent). Increases were observed in Slovakia (1.3 per cent), Lithuania (1.1 per cent), Greece (0.5 per cent), and Austria (0.2 per cent).

In the euro area in October 2022, compared with October 2021, production of non-durable consumer goods rose by 10.5 per cent, while production of intermediate goods fell by 2.9 per cent as well as energy by 8.7 per cent.

In the EU, production of non-durable consumer goods rose by 11.4 per cent, while production of intermediate goods fell by 2.5 per cent as well as energy by 9 per cent.

Among member states, the highest annual increases were registered in Ireland (53.2 per cent), Denmark (10.7 per cent), and Malta (7.2 per cent). The largest decreases were observed in Estonia (5.8 per cent), Luxembourg (3.8 per cent), and Belgium (2.8 per cent).

The euro area (EA19) includes Belgium, Germany, Estonia, Ireland, Greece, Spain, France, Italy, Cyprus, Latvia, Lithuania, Luxembourg, Malta, the Netherlands, Austria, Portugal, Slovenia, Slovakia, and Finland.

The European Union (EU27) includes Belgium, Bulgaria, Czechia, Denmark, Germany, Estonia, Ireland, Greece, Spain, France, Croatia, Italy, Cyprus, Latvia, Lithuania, Luxembourg, Hungary, Malta, the Netherlands, Austria, Poland, Portugal, Romania, Slovenia, Slovakia, Finland, and Sweden.

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