Euro Area Industrial Output Annual Growth Highest Since 2011


Industrial production in the Euro Area went up 5.2 percent year-on-year in December of 2017, above an upwardly revised 3.7 percent rise in November and beating market expectations of a 4.2 percent gain. It is the strongest annual increase in industrial output since August of 2011. On a monthly basis, industrial production went up 0.4 percent, beating forecasts of a 0.2 percent gain.

Year-on-year, production of capital goods went up 7.6 percewnt; durable consumer goods 7.4 percent; intermediate goods 6.6 percent; non-durable consumer goods 3.1 percent and energy 0.6 percent.

In the EU28, industrial output went up 4.8 percent, due to capital goods (7.7 percent); durable consumer goods (6.7 percent); intermediate goods (6 percent); and non-durable consumer goods (2.5 percent), while production of energy fell by 0.1 percent. Among Member States for which data are available, the highest increases in industrial production were registered in Romania (+13.5 percent), Slovenia (+12.2 percent) and Sweden (+8.5 percent), and the largest decreases in Croatia (-2.5 percent), Luxembourg (-2.3 percent) and Denmark (-2.2 percent). Production rose 6.8 percent in Germany; 4.9 percent in Italy; 4.6 percent in France; and 0.7 percent in the UK. 

On a monthly basis, the increase of 0.4 percent in industrial production in the Euro Area is due to production of durable consumer goods (2.7 percent); intermediate goods (1.4 percent); energy (1.3 percent) and non-durable consumer goods (0.7 percent), while production of capital goods fell by 1.1 percent.

In the EU28, the increase of 0.3 percent is due to durable consumer goods (2.6 percent); intermediate goods (1.3 percent) and non-durable consumer goods (0.6 percent), while production of capital goods fell by 0.5 percent and energy by 0.3 percent.

Among Member States for which data are available, the highest increases in industrial production were registered in Romania (+3.8 percent), Ireland (+3 percent) and Slovenia (+2.7 percent), and the largest decreases in Slovakia (-2.7 percent), Lithuania (-2.6 percent) and the Czech Republic (-1.5 percent). Production rose in Italy (1.6 percent) and France (0.6 percent) but fell in Germany (-0.5 percent) and in the UK (-1.4 percent). 

Considering full 2017, industrial output in the Euro Area jumped 3 percent, well above 1.5 percent in 2016 and the highest gain since 2011. In the European Union, industrial output surged 3.3 percent, higher than 1.6 percent in 2016 and the strongest growth since 2010.

Euro Area Industrial Output Annual Growth Highest Since 2011


Eurostat | Joana Taborda | joana.taborda@tradingeconomics.com
2/14/2018 10:55:17 AM