Monday, 24 July 2017
Rise in industrial production Rise in industrial production

Industrial production grows by 2.4 percent in May

By  Jul 14, 2017

In May 2017, seasonally adjusted industrial production in the European Union increased by 1.2 percent on a monthly basis, whilst in the region of a single European currency this growth was 1.3 percent.

When it comes to Croatia, industrial production in May jumped by 2.4 percent after a significant decline in April by 1.9 percent.

Among the EU member countries, whose data are available to Eurostat, the highest increases in industrial production on a monthly basis were recorded in Lithuania (3,8%), Romania (3,5%) and the Czech Republic (3,3%), whilst the biggest decline recorded Portugal (-1%) and Malta (-0,9%).

In terms of product categories, the growth of the industrial production in the EU by 1,2 percent on a monthly basis was due to the production growth of capital goods (2%), durable consumer goods (1,8%), non-durable consumer goods (1%), energy production (0,7%) and intermediate goods (0,6%).

Furthermore, an increase by 1,3% in industrial production in the Eurozone in May 2017, compared with April 2017 was due to capital goods production rising by 2,3 percent, durable consumer goods production by 1,8 percent, non-durable consumer goods production by 1,2 percent, energy production by 0,9 percent, and intermediate goods production by 0,3 percent.

The industrial production in May on an annual basis increased both in the Eurozone and in the European Union by 4 percent. The highest growth rate recorded Romania (14,6%), followed by Estonia (12,6%), the Czech Republic (10,7%), Bulgaria (9,6%), Latvia (9,8%), and Slovenia (9,1%). However, Malta and Great Britain both recorded a decline by 0,7 percent.

As far as Croatia is concerned, the industrial production in May jumped by 3,3 percent in comparison to the same month last year. However, this April recorded a decline by 0,6 percent on an annual basis.

All product categories were responsible for the growth in the EU by 4 percent on an annual basis; the production of durable consumer goods rose by 6,8 percent, capital goods by 6,1 percent, intermediate goods by 4,9 percent, non-durable consumer goods by 2,4 percent, whilst the production of energy increased by 1,1 percent.

In addition, industrial production significantly grew in the Eurozone on an annual basis also by 4 percent; the production of durable consumer goods production increased by 7,5 percent, capital goods by 5,5 percent, intermediate goods by 3,8 percent, non-durable goods by 2,6 percent, whilst the production of energy recorded an increase by 2,2 percent.

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The Voice of Dubrovnik

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