The industrial production in Eurozone decreased by 1.2% MoM in May 2016, while throughout the European Union by growth amounted to 1.1%. In April, industrial production grew by 1.4% in Eurozone and by 1.5% in the European Union. This negatively affected the trade, as the market expectations were for a decline of 0.8% MoM in May. However, on year-on-year basis the industrial production grew by 0.5% in Eurozone and 1.1% in European Union.
The decrease on a monthly basis is primarily due to lower energy production (-4.3%) and capital goods (-2.3%). The decreases also has the production of durable, intermediate and indurable consumer goods. The greatest decline in industrial production reports Netherlands (-7.8%), Portugal (-4.4%), Greece (-4.3%) and Romania (-4.0%), while the highest growing countries are Lithuania (+3.9%), Latvia (+2.4%), Slovenia (+0.6%) and Malta (+0.3%).
The increase on an annual basis in the Eurozone is encouraged by growth of 0.8% in production of intermediate goods and durable consumer goods. In capital goods increase was 0.3%, while energy and durable goods have declines of respectively 1.1% and 0.9%. The highest increases is reported in Slovenia (+6.0%), Ireland (+5.8%) and Latvia (+5.1%). The largest decreases were recorded in Malta (-3.7%), Bulgaria (-3.3%) and Portugal (-2.4%).
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