World Economy

Eurozone Factory Production Drops

Eurozone Factory Production DropsEurozone Factory Production Drops

According to a Eurostat report released Wednesday, industrial production in the eurozone is decelerating, but the recovery year-on-year in the eurozone economy appears to be still on track. Or this is the main message of the crucial industrial production indicator, Neweurope reported. In June 2015, compared with May 2015, seasonally adjusted industrial production fell by 0.4% in the eurozone (EA19) and by 0.2% in the EU28, according to estimates from Eurostat, the statistical office of the European Union. In May 2015, industrial production decreased by 0.2% and 0.1% respectively. Year on year, the recovery still appears to be on track. On an annual basis, eurozone industrial production increased by 1.2% in June 2015, compared with June 2014. Among member states, for which data are available, the highest increases in industrial production compared to 2014 were registered in Ireland (+27.6%), Denmark (+7.6%), Lithuania (+6.9%) and Slovakia (+6.4%). The largest decreases were observed in Greece (-4.6%), Estonia (-3.4%), the Netherlands (-2.4%), Finland (-1.1%) and Italy (-0.3%).