Industrial production declines in EU, eurozone in May

Industrial production declines in EU, eurozone in May

On annual basis, largest declines seen in Romania, Germany, and Bulgaria

By Sahika Olgun

ISTANBUL (AA) - Industrial production dropped in the EU and eurozone in May, the 27-member bloc's statistical authority said on Monday.

Production fell 2.9% in the euro area and 2.5% in the EU year-on-year in May, Eurostat said.

Industrial production in the eurozone was down 6.5% for capital goods, 4.2% for durable consumer goods, and 3.5% for intermediate goods, while it was up 2.8% for non-durable consumer goods, and 0.7% for energy.

On the EU side, production was down 6.3% for capital goods, 4.1% for durable consumer goods, and 3.1% for intermediate goods, while it was up 3.3% for non-durable consumer goods, and 1.2% for energy.

Among member states, the largest annual decreases were recorded in Romania (6.9%), Germany (6.6%), and Bulgaria (6.3%), and the highest increases were in Denmark (9.6%), Ireland (8.7%), and Greece (6.8%).

On a monthly basis, industrial production fell 0.6% in the euro area and 0.8% 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.

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