The industrial production of the Eurozone and the EU increased in June

By: Trademagazin Date: 2023. 08. 16. 13:00

The industrial production of the Eurozone and the EU increased in June in a monthly comparison, while the rate of decline slowed down in both regions on an annual basis, according to data posted on the website of the statistical office of the European Union, Eurostat, on Wednesday.

In June, industrial production in the euro area increased by 0.5 percent compared to May, when stagnation was recorded. A decrease of 0.1 percent was included in the average of expert expectations. In the EU, industrial production increased by 0.4 percent in July after stagnating in June.

In the EU, production of capital goods decreased by 0.7 percent after a 1.2 percent increase in May, while energy production increased by 0.5 percent after a 2.5 percent decline in the previous month. Meanwhile, the production of non-durable consumer goods, durable consumer goods and intermediate goods both fell by 0.4 percent in one month.

On an annual basis, the decline in industrial production in the euro area moderated to 1.2 percent from the 2.5 percent decrease in May, while in the European Union, the decrease in production was also 1.2 percent in June after the 2.1 percent drop in May.