LOWER PRODUCTION. Industrial production in the European Union (EU) and the Eurozone fell in January 2024, according to Eurostat. The 27-member bloc’s statistical authority said industrial production in the euro area posted a bigger annual decline at 6.7 percent compared to the 5.7 percent drop in EU. (Anadolu)
ISTANBUL – Industrial production dropped sharply in the European Union (EU) and eurozone in January, the 27-member bloc's statistical authority said on Wednesday.
Production fell 6.7 percent in the euro area and 5.7 percent in the EU year-on-year in January, Eurostat said.
Industrial production in the eurozone was down 12.1 percent for capital goods, 8.4 percent for durable consumer goods, 3.1 percent for non-durable consumer goods, 2.5 percent for intermediate goods, and 0.3 percent for energy.
On the EU side, production was down 10.1 percent for capital goods, 8.1 percent for durable consumer goods, 3.3 percent for intermediate goods, 1.3 percent for non-durable consumer goods, and 0.6 percent for energy.
Among member states, the largest annual decreases were seen in Ireland (34.1 perent), Estonia (8.6 percent), and Bulgaria (7.6 percent), and the highest increases were in Slovenia (12.2 percent), Greece (10.5 percent), and Denmark (5.3 percent).
On a monthly basis, industrial production fell 3.2 percent in the euro area and 2.1 percent in the EU.
The eurozone/euro area, or EA19, represents member states that use the single currency – the euro – while the EU27 includes all member countries of the bloc. (Anadolu)
