Issue link: https://maltatoday.uberflip.com/i/1517430
7 NEWS 14.3.2024 Industrial production down by 3.2% in euro area IN January 2024, compared with December 2023, season- ally adjusted industrial pro- duction decreased by 3.2% in the euro area and by 2.1% in the EU, according to first estimates from Eurostat, the statistical office of the Euro- pean Union. In December 2023, indus- trial production grew by 1.6% in both the euro area and the EU. In January 2024, com- pared with January 2023, industrial production de- creased by 6.7% in the euro area and by 5.7% in the EU. Monthly comparison In the euro area in January 2024, compared with Decem- ber 2023, industrial produc- tion • increased by 2.6% for intermediate goods, • increased by 0.5% for energy, • decreased by 14.5% for capital goods, • decreased by 1.2% for durable consumer goods, • decreased by 0.3% for non-durable consumer goods. In the EU, industrial pro- duction • increased by 2.9% for intermediate goods, • increased by 0.6% for energy, • decreased by 12.8% for capital goods, • decreased by 0.1% for durable consumer goods, • decreased by 0.5% for non-durable consumer goods. Among Member States for which data are available, the largest monthly decreas- es were recorded in Ireland (-29.0%), Malta (-9.4%) and Estonia (-6.6%). The high- est increases were observed in Poland (+13.3%), Slove- nia (+10.6%) and Lithuania (+7.2%). Annual comparison In the euro area in January 2024, compared with January 2023, industrial production • decreased by 2.5% for intermediate goods, • increased by 0.3% for energy, • decreased by 12.1% for capital goods, • decreased by 8.4% for durable consumer goods, • decreased by 3.1% for non-durable consumer goods. In the EU, industrial pro- duction • decreased by 3.3% for intermediate goods, • increased by 0.6% for energy, • decreased by 10.1% for capital goods, • decreased by 8.1% for durable consumer goods, • decreased by 1.3% for non-durable consumer goods. Among Member States for which data are available, the largest annual decreases were recorded in Ireland (-34.1%), Estonia (-8.6%) and Bulgaria (-7.6%). The highest increas- es were observed in Slovenia (+12.2%), Greece (+10.5%) and Denmark (+5.3%). Aug-23 Sep-23 Oct-23 Nov-23 Dec-23 Jan-24 Euro area 0.2 -0.6 -0.5 0.4 1.6 -3.2 EU 0.5 -0.7 -0.3 0.1 1.6 -2.1 Belgium -3.9 -0.8 5.2 -4.2 4.9 -2 Bulgaria 1.4 -2.1 1.9 -4.4 4 -2.5 Czechia c c c c c c Denmark -0.7 -0.7 4.9 3.1 0.8 -3.8 Germany -0.1 -1.1 0 0.1 -1.8 0.6 Estonia 2.1 -3.4 0 2.8 5.2 -6.6 Ireland** 5.2 -2.1 -6.9 7.4 19 -29 Greece 1 -2.2 6.1 -4.1 1 3.5 Spain -1 0.8 0.4 0.4 -1.1 0.9 France 0.3 -0.2 -0.6 0.7 0.3 -1 Croatia -2.4 3.6 -0.9 2.1 -4 0 Italy c c c c c c Cyprus 0.3 1.3 -0.8 0.1 0.5 -1.4 Latvia -11.5 2.3 -0.5 -1.7 1.2 -2.7 Lithuania 3.8 1.1 -3.7 -0.1 -2.6 7.2 Luxembourg 0.4 -3.2 3.6 -0.8 1.4 -2.7 Hungary -3.6 1.6 0.2 -2.6 0.2 -1.1 Malta 0 1.7 -2.9 2.4 5.2 -9.4 Netherlands -0.6 -1.2 -1 0.1 3.9 -4 Austria 0.4 0.5 -1.5 -1.5 2.4 -0.8 Poland 3.1 0 -1.8 -2.1 0.4 13.3 Portugal -0.9 -2.9 3.2 4.3 -1.1 1.4 Romania -0.6 1.7 -2.3 -0.2 1.6 -3.4 Slovenia -3.8 5.3 -0.1 2.9 -1.8 10.6 Slovakia 4.3 -1.6 2.1 -3 4.1 -2.8 Finland 1.8 -1.1 0.6 -0.2 -2.8 2.5 Sweden 2.3 -2.7 1.3 -0.2 1.9 -0.2 Industrial production Industrial production - % change compared with previous month Industrial production in January 2024 : Data not available c Confidential