Eurozone industrial production gains momentum in May

By Tuba Sahin

ANKARA (AA) - Industrial production gained momentum in the eurozone in May, rising by 0.8% from a month ago, according to Eurostat on Wednesday.

The figure was at a 0.5% growth in April, statistical authority data showed.

The EU's industrial output also ticked up by 0.6% month-on-month in May versus a rise of 0.3% in the previous month.

In the euro area, the production of non-durable consumer goods rose by 2.7%, capital goods by 2.5%, and durable consumer goods by 1.4%, while the production of intermediate goods remained unchanged and production of energy fell by 3.3%.

Among member states for which data are available, Ireland (by 13.9%), Greece (by 2.6%), and Czechia (by 2.4%) posted the largest monthly rises in May.

The largest declines were registered in Lithuania with 7.6%, the Netherlands 3.3%, and Luxembourg with 2.9%.

On an annual basis, the industrial production jumped by 1.6% in the euro area and 2.7% in the EU27 following April's contractions of 2.5% and 0.8%, respectively.