Slovenia Is the Leader in Terms of Industrial Production Growth in the EU
On the average annual level, Slovenia showed a 7.4% growth in industrial production, which was the best result among the EU countries. On the average monthly level, its figure was 1.2%.
Luxembourg. — As of July 2016, the volume of industrial production in the euro area fell by 1.1% on the average monthly level, whereas it fell by 1% in the EU. This is evidenced by the data published by the Eurostat today. On the average annual level, Slovenia (the same as Denmark) has a 7.4-percent growth rate of industrial production, which is the best result among the EU countries. On the average monthly level, Slovenia has improved its index by 1.2%.
Considering the seasonally adjusted data, in July, the industrial production fell by 0.5% within the yearly average perspective, and in the EU — by 0.1%.
On the average monthly level, the rate of industrial production decline in the euro area was mostly affected by a decrease in the share of manufactured capital goods (-1.7%) and energy (-1.4%). In the EU, the production of capital goods decreased by 2.1% and production of durable goods — by 0.6%.
Among the countries, which data was used by the Eurostat, the largest drop in the industrial production on the average monthly level was shown by Slovakia (-15.9%), the Czech Republic (-9.7%) and the Netherlands (-5.8%), while the highest increase was registered in Estonia (+4.5%), Ireland (+3.7%) and Denmark (+2.3%).
On the annual average level, the pace of fall in the euro area was most significantly impacted by the lower energy production (-5.9%). A similar trend was also observed across the EU, where an average annual level of energy production decreased by 4%.
Among the countries, which data was possessed by the Statistics Service, the largest decline in the industrial production at the average annual level was recorded in Slovakia (-14.3%), the Czech Republic (1.76%) and Malta (-3.9%), and the highest growth — in Denmark (+7.4%), Slovenia (+7.4%), Finland (+6.8%) and Ireland (+5%).