Industrial production rises by 0.2% in the euro area in October, drops by -0.8% in Cyprus in September

In October 2017 compared with September 2017, seasonally adjusted industrial production rose by 0.2% in the euro area (EA19) and by 0.3% in the EU28, according to estimates from Eurostat, the statistical office of the European Union. In September 2017, the industrial production fell by 0.5% in both zones. In October 2017 compared with October 2016, industrial production increased by 3.7% in the euro area and by 4.2% in the EU28. In Cyprus the same index decreased by -0.8 in September 2017 in monthly basis, but increased by 6.2 in annual basis.

The increase of 0.2% in industrial production in the euro area in October 2017, compared with September 2017, is due to production of non-durable consumer goods rising by 0.5% and energy by 0.1%, while production of intermediate goods remained stable, capital goods fell by 0.3% and durable consumer goods by 1.9%. In the EU28, the increase of 0.3% is due to production of non-durable consumer goods rising by 0.7% and intermediate goods by 0.2%, while production of both energy and capital goods fell by 0.2% and durable consumer goods by 1.7%. Among Member States for which data are available, the highest increases in industrial production were registered in Ireland (+10.6%), Denmark (+2.8%) and Croatia (+2.7%), and the largest decreases in Malta (-6.1%), Portugal (-2.3%) and the Netherlands (-1.8%).

The increase of 3.7% in industrial production in the euro area in October 2017, compared with October 2016, is due to production of non-durable consumer goods rising by 5.7%, intermediate goods by 5.0%, durable consumer goods by 3.7% and capital goods by 3.3%, while production of energy fell by 2.2%. In the EU28, the increase of 4.2% is due to production of intermediate goods rising by 5.3%, non-durable consumer goods by 4.7%, capital goods by 4.2% and durable consumer goods by 3.5%, while production of energy fell by 0.3%. Among Member States for which data are available, the highest increases in industrial production were registered in Ireland (+13.4%), Slovenia (+10.7%), Poland (+10.0%) and Romania (+9.1%). Decreases were observed in Denmark (-2.3%), Malta (-1.4%) and the Netherlands (-0.4%).

Source: Cyprus News Agency