Industrial production increased by 1.1% in the Eurozone and the EU and by 2.4% in Cyprus in August this year on an annual basis, the latest Eurostat data show.
At the same time, industrial production fell in August on a monthly basis, while Cyprus had a relatively stable performance compared to other member states.
Specifically, industrial production decreased by 1.2% in the Eurozone and by 1.0% in the EU.
In terms of monthly changes in the Eurozone, production declined in all major industrial sectors, except for non-durable consumer goods, which saw a 0.1% increase. At the EU27 level, production remained stable for intermediate goods but decreased in all other sectors.
The largest monthly decreases were recorded in Germany (-5.2%), Greece (-4.5%), and Austria (-3.1%), while the highest increases were observed in Ireland (+9.8%), Luxembourg (+4.8%), and Sweden (+3.6%). In Cyprus, monthly production remained unchanged.
On an annual basis, production decreased for intermediate goods, energy, capital goods, and durable consumer goods but increased for non-durable consumer goods (+8.2%). In the EU, production fell for intermediate goods, energy, and durable consumer goods but rose for capital goods (+0.5%) and non-durable consumer goods (+6.5%).
The largest annual increases were recorded in Ireland (+28.6%), Luxembourg (+9.5%), and Sweden (+8.3%), while the biggest declines were observed in Bulgaria (-8.6%), Slovakia (-6.3%), and Denmark (-5.0%). Cyprus’ industrial production increased by 2.4%, one of the few Member States to record a positive annual change.
(Source: CNA)
