EU Industrial Production Increases 0.5% MoM

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China Drying Network News In May, industrial production in the euro zone increased by 0.6% from the previous quarter, but it was down 2.8% year-on-year. During the same period, industrial production in the European Union increased by 0.5% on a month-over-year basis and decreased by 2.3% year-on-year. Among the EU member states that reported the statistics, industrial production in 13 countries recorded a month-on-month increase, and 8 countries experienced a month-on-month decline. One of the fastest-growing countries was Portugal, with a 4.1% increase from the previous period; the largest decline was in Lithuania, a decrease of 16.3%.

Data show that production of energy products in the euro zone fell by 2.3% month-on-month in May, production of similar products in the European Union fell by 1.7% month-on-month; production of durable goods in the euro zone and the EU rose by 0.5% and 0.8% respectively, non-durable goods production increased by 1.7% and 2.2 respectively %; Capital production in both regions increased by 0.9% and intermediate product production increased by 0.3%.

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