Industrial production in EU up by 1.2 pct on the month

Pixabay (ilustracija)

Industrial production in the European Union went up by 1.2 percent in May on the month, after a drop in April, while Croatia marked growth on a monthly, but a drop on an annual level, Eurostat reported on Thursday.

Seasonally adjusted industrial production rose in the euro zone by 1.3 percent on the month, after dropping by 0.8 percent in April.

The highest increases were visible in Latvia, with 11.6 percent, followed by Sweden, with 3.4 percent, and Ireland with 3.2 percent.

Significant drop in production was seen in Denmark (2.8 percent) and Portugal (2 percent).

In Croatia, industry production went up by 1.8 percent compared to April, when it had dropped by 0.9 percent.

On the annual level, both EU and the euro zone registered an increase of 2.4 percent. In April, industrial production went up by 1.9 percent in EU, and 1.7 percent in the euro zone. The growth is due to production of capital goods rising about 3.9 percent, non-durable consumer goods by 2.4 percent, and intermediate goods by 2.3 percent, while durable goods fell by 0.2 percent and production of energy by 1.0 percent.

Among the countries which registered the highest increases on the year, production rose the most in Poland (7.8 percent), Ireland (7.3 percent), and Slovenia (5.9 percent).

The largest drops were recorded in Malta (6.3 percent), Denmark (3.3 percent), and Portugal (2.6 percent).

In Croatia, industrial production dropped by 0.6 percent on the year, after a 1.3 percent drop in April.

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