Mon, 03 Aug 2020

BRUSSELS, July 14 (Xinhua) -- Record month-on-month increases in total industrial production in both the European Union (EU) and the eurozone have been attributed by the EU's statistics office Eurostat to "member states easing COVID-19 containment measures."

The figures published on Tuesday reveal an impressive 12.4 percent month-on-month increase in total industrial production in May, after falls of 18.2 percent in April and 11.8 percent in March registered in the 19 countries of the eurozone.

In the EU as a whole, total industrial production grew 11.4 percent month-on-month in May. In April it fell by 18.2 percent month-on-month.

Among the 27 EU countries, the largest month-on-month increase in industrial production in May was registered by Italy (42.1 percent), followed by France (20 percent) and Slovakia (19.6 percent). Italy and Slovakia are both eurozone members.

In contrast, the Eurostat figures reveal that significant declines in total month-on-month industrial production were registered in May by eurozone members Ireland (minus 9.8 percent) and Finland (minus 1.3 percent) and EU member Croatia (minus 3.5 percent).

The month-on-month increase appears starker in certain industries, such as the production of durable consumer goods, where the eurozone registered a 54.2 percent increase in May, compared with 47.7 percent in the EU.

The production of capital goods in May increased by 25.4 percent month-on-month in the eurozone and by 24.8 percent in the EU.

The effects of the pandemic on production are evident in a year-on-year comparison. In May, industrial production decreased by 20.9 percent in the eurozone and by 20.5 percent in the EU.

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