On a year-on-year basis, industrial production in the Eurozone fell by 28 percent (-13.5 percent in March, -29.5 percent were expected today). Also, intermediate goods output continued to fall (-0.8 percent vs -1.5 percent).Industrial production in the Euro Area plunged 4.1 percent from a year earlier in December 2019, following a revised 1.7 percent contraction in the previous month and compared to market forecasts of a 2.3 percent decline. The economic crisis did not start in all Member States at exactly the same moment (Table 2).
In 2009 all EU countries experienced a fall in industrial production and the European average rate of decline was almost -14 %. Industrial Production in Europe In the EU 28 countries, output increased similarly on an annual basis by 1.4% in April, after a surprise 2.7% rise in March. Industrial Production YoY
The production of consumer durables reached its peak several months before total production and had already been on a slow decline before the onset of the crisis. Industrial Production YoY Industrial Production YoY
The shutdown was complete throughout Europe. Considering 2019 full year, industrial output shrank 1.7 percent, the steepest contraction since 2012.In Euro Area, industrial production measures the output of businesses integrated in industrial sector of the economy such as manufacturing, mining, and utilities. Trading Economics members can view, download and compare data from nearly 200 countries, including more than 20 million economic indicators, exchange rates, government bond yields, stock indexes and commodity prices. Industrial Production YoY
This downwards trend for the EU-28 continued for the following year. Ever since the volume of non-durable consumer goods has developed much in line with total production. The Trading Economics Application Programming Interface (API) provides direct access to our data. Industrial Production YoY Strong increases were recorded for the production levels of pharmaceuticals, and other transport equipment while the production of tobacco products fell by 8 %. Industrial Production YoY On a monthly basis, industrial output increased a record 12.4 percent in May, recovering from a 18.2 percent fall in the previous month but below market forecasts of a 15 percent gain.The Eurozone industrial production fell 12.9 percent from a year earlier in March 2020, the steepest decline since August 2009 and compared to market expectations of a 12.4 percent contraction, as the COVID-19 pandemic hit businesses and activity. Industrial production in the Euro Area dropped 20.9 percent from a year earlier in May 2020, following an upwardly revised record 28.7 plunge in the previous month and compared with market expectations of a 20 percent slump.
Since mid-2003 total industrial output had been on a relatively steady growth path. During the period from April 2008 to April 2009 production levels in this industry fell by 14 percentage points. It was the third consecutive decline in industrial output, amid the coronavirus crisis.
Industrial Production YoY
Capital goods output led the falls (-6.7 percent), followed by intermediate goods (-5.5 percent), energy (-2.3 percent) and durable consumer goods (-1.4 percent).
Industrial Production in European Union averaged 1.04 percent from 1992 until 2020, reaching an all time high of 9.40 percent in August of 2000 and a record low of … The biggest decreases were seen in the production of capital and durable consumer goods, followed by intermediate goods, energy and non-durable consumer goods.The Eurozone industrial production fell 1.9 percent from a year earlier in February 2020, following a revised 1.7 percent drop in the previous month and compared to market expectations of a 2 percent contraction.
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