Europe: Industrial output down 7.3% in July

The EU’s industrial output posted a decline of 7.3% in July versus the same month of 2019, the bloc’s statistical office reported on Monday.

 

Eurostat stressed that the figure was also down 7.7% in the eurozone over the same period.

 

It grew by 9.6% and 9.5% in EU and the eurozone, respectively, in July on a monthly basis with the easing of measures against the spread of the novel coronavirus.

 

The eurozone/euro area or EA19 represents member states that use the single currency — euro — while the EU27 includes all member countries of the bloc.

 

In the EU, among main industrial groups, the production of capital goods fell the most, down 10.4% year-on-year in July.

 

It was followed by intermediate goods (minus 9.3%), energy (minus 6.2%), durable consumer goods (minus 3.8%), and non-durable consumer goods (minus 1.9%).

 

Among member states, the highest annual drops were seen in Denmark (minus 13.6%), Germany (minus 11.6%), and Portugal (minus 9.6%).

 

“Increases were registered in Ireland (15.6%), Poland (0.9%) and Latvia (0.1%),” it added.

 

The coronavirus pandemic has claimed more than 924,600 lives in 188 countries and regions since it originated in China last December.

 

More than 29 million COVID-19 cases have been reported worldwide, with recoveries exceeding 19.6 million, according to figures compiled by the US’ Johns Hopkins University.

 

Due to the pandemic, several sectors, including factories, have been facing problems related to measures, such as lockdowns.

 

In Turkey, the industrial production rose by 4.4% year-on-year in July, and 8.4% on a monthly basis.

 

Source: Anadolu Agency

Leave a Reply