Euro zone industrial production down in May

Monday 14 July 2014 11.03
Industrial production fell during the month but was higher on an annual basis
Industrial production fell during the month but was higher on an annual basis

Industrial production across the euro zone fell 1.1% in May when compared with the previous month, according to new figures from Eurostat.

It follows a 0.7% rise in April, with production across the 28 countries of the European Union following the same pattern.

On an annual basis production was 0.5% higher across the euro zone, however, with production in the wider EU up 1.1%.

The figures do not include Irish data for May, which was not available, however it shows monthly growth of 2.1% and an annual increase of 15% in April.

Romania saw the biggest increase in production across the region – up 2.6% in May and 15% on an annual basis.

Portugal saw the sharpest monthly decline – down 3.6% - while Malta was the worst performer on an annual basis, registering a 11.9% fall in the year to May.

Energy was the only sector to record growth across the EU during the month of May, with a 2.2% rise. Intermediate goods production fell 2.1%, meanwhile.

Capital goods was 2.2% higher on an annual basis, while production across the region’s energy sector fell 2.9%.