Industrial production up by 2.6% in both the euro area and the EU

In December 2023, the seasonally adjusted industrial production increased by 2.6% in both the euro area and the EU, compared with November 2023, according to estimates from Eurostat, the statistical office of the European Union. In November 2023, industrial production increased by 0.4% in the euro area and by 0.5% in the EU.

In December 2023 compared with December 2022, industrial production increased by 1.2% in both the euro area and the EU.

The annual average industrial production for the year 2023, compared with 2022, decreased by 2.4% in the euro area and by 2.0% in the EU.

Monthly comparison

Industrial production in the euro area in December 2023, compared with November 2023, grew by 20.5% for capital goods, by 0.5% for durable consumer goods, by 0.3% for energy and by 0.2% for non durable consumer goods, while production fell by 1.2% for intermediate goods.

In the EU, industrial production grew by 18.0% for capital goods, by 0.6% for non durable consumer goods and by 0.4% for both energy and durable consumer goods, while production fell by 0.7% for intermediate goods.

Among Member States for which data are available, the highest monthly increases were registered in Ireland (+23.5%), the Netherlands (+6.6%) and Denmark (+5.6%). The largest decreases were observed in Slovenia (-7.4%), Croatia (-4.3%) and Finland (-2.7%).

Annual comparison

Industrial production in the euro area in December 2023, compared with December 2022, grew by 9.4% for capital goods, while production fell by 1.7% for energy, by 3.6% for intermediate goods, by 3.7% for non durable consumer goods and by 5.4% for durable consumer goods.

In the EU, industrial production grew by 8.6% for capital goods, while production fell by 1.3% for energy, by 1.7% for non durable consumer goods, by 4.0% for intermediate goods and by 6.4% for durable consumer goods.

Among Member States for which data are available, the highest annual increases were registered in Ireland (+44.7%), Denmark (+6.7%) and Malta (+5.0%). The largest decreases were observed in Slovenia ( 10.2%), Hungary (-8.7%) and Bulgaria (-6.9%).