Euro area’s green shoot: industrial production up by 0.5%

In February 2012 compared with January 2012, seasonally adjusted industrial production grew by 0.5% in the euro area and by 0.2% in the European Union. In January production remained stable in both zones, said Eurostat, the statistical office of the European Union.

Year on year, though, industrial production dropped by 1.8% in both the euro area and the EU27.

In February 2012 compared with January 2012, production of energy grew by 7.7% in the euro area and by 6.6% in the EU27. Capital goods rose by 0.7% and 0.1% respectively. Intermediate goods decreased by 1.4% in the euro area and by 1.5% in the EU27. Non-durable consumer goods fell by 1.6% and 2.0% respectively. Production of durable consumer goods dropped by 2.0% in the euro area and by 2.4% in the EU27.

Among the member states for which data are available, industrial production rose in nine and fell in thirteen. The highest increases were registered in the Netherlands (+13.0%), Slovakia (+2.8%) and Finland (+2.1%), and the largest decreases in Malta (-4.6%), Sweden (-3.6%) and Ireland (-3.2%).

In February 2012 compared with February 2011, production of energy rose by 3.6% in the euro area and by 1.4% in the EU27. Capital goods grew by 0.8% and 0.7% respectively. Intermediate goods decreased by 4.5% in the euro area and by 4.0% in the EU27. Non-durable consumer goods fell by 5.3% and 4.4% respectively. Durable consumer goods dropped by 6.4% in the euro area and by 5.2% in the EU27.

Among the Member States for which data are available, industrial production rose in seven and fell in fifteen. The highest increases were registered in Slovakia (+8.4%), Latvia (+7.3%) and the Netherlands (+6.7%), and the largest decreases in Luxembourg (-14.4%), Malta (-11.4%) and Greece (-8.5%).