EU industrial production edges up 0.3% in Oct ’24

The European Union’s industrial production increased by 0.3 per cent in October 2024, while output in the euro area remained stable compared to September, according to latest data from the bloc’s statistical official, Eurostat. This follows a decline in September of 1.4 per cent in the EU and 1.5 per cent in the euro area.

On an annual basis, industrial production fell by 0.8 per cent in the EU and 1.2 per cent in the euro area compared to October 2023.

Sectoral Performance
In the EU, monthly production rose for capital goods (1.7 per cent) and intermediate goods (0.2 per cent) but declined for energy (1.3 per cent), durable consumer goods (-0.7 per cent), and non-durable consumer goods (1.3 per cent). The euro area followed a similar trend.

Country-Level Changes
Ireland (5.7 per cent), Denmark (5.4 per cent), and Poland (3.5 per cent) saw the highest monthly increases. Conversely, Lithuania (7.5 per cent), Belgium6.2 per cent), and Croatia (3.9 per cent) experienced the largest declines.

Annually, Ireland (15.2 per cent) and Denmark (8.6 per cent) recorded significant growth, while Belgium (7.9 per cent), Germany (4.9 per cent), and Italy (3.6 per cent) reported notable declines.

Attribution: Eurostat

Subediting: Y.Yasser