Industrial production down in eurozone, EU in August

ISTANBUL

Both the euro area and EU posted annual declines in industrial production in August, the bloc's statistical body revealed on Friday.

The production dropped by 5.1% in the euro area and by 4.4% in the 27-member EU, according to Eurostat.

On a yearly basis, the production of durable consumer goods fell by 7.2%, capital goods by 7.0%, energy by 6.3%, intermediate goods by 5.2%, and non-durable consumer goods by 1.4% in the euro area in August.

On the EU side, production of durable consumer goods fell by 7.3%, energy by 6.7%, intermediate goods by 5.5%, and capital goods by 5.2%, while production of non-durable consumer goods remained stable.

Among member states, the largest annual decreases were posted by Ireland (-27.3%), Slovenia (-12.3%) and Estonia (-11.9%), while the highest increases were seen in Slovakia (+4.7%), Denmark (+3.5%), and Malta (+3.0%).