Industrial production down by 3.2% in euro area

In January 2024, compared with December 2023, seasonally adjusted industrial production decreased by 3.2% in the euro area and by 2.1% in the EU, according to first estimates from Eurostat, the statistical office of the European Union.

In December 2023, industrial production grew by 1.6% in both the euro area and the EU.

In January 2024, compared with January 2023, industrial production decreased by 6.7% in the euro area and by 5.7% in the EU.

Monthly comparison

In the euro area in January 2024, compared with December 2023, industrial production

• increased by 2.6% for intermediate goods,
• increased by 0.5% for energy,
• decreased by 14.5% for capital goods,
• decreased by 1.2% for durable consumer goods,
• decreased by 0.3% for non-durable consumer goods.
• In the EU, industrial production
• increased by 2.9% for intermediate goods,
• increased by 0.6% for energy,
• decreased by 12.8% for capital goods,
• decreased by 0.1% for durable consumer goods,
• decreased by 0.5% for non-durable consumer goods.

Among Member States for which data are available, the largest monthly decreases were recorded in Ireland (-29.0%), Malta (-9.4%) and Estonia (-6.6%). The highest increases were observed in Poland (+13.3%), Slovenia (+10.6%) and Lithuania (+7.2%).

Annual comparison

In the euro area in January 2024, compared with January 2023, industrial production

• decreased by 2.5% for intermediate goods,
• increased by 0.3% for energy,
• decreased by 12.1% for capital goods,
• decreased by 8.4% for durable consumer goods,
• decreased by 3.1% for non-durable consumer goods.
• In the EU, industrial production
• decreased by 3.3% for intermediate goods,
• increased by 0.6% for energy,
• decreased by 10.1% for capital goods,
• decreased by 8.1% for durable consumer goods,
• decreased by 1.3% for non-durable consumer goods.

Among Member States for which data are available, the largest annual decreases were recorded in Ireland (-34.1%), Estonia (-8.6%) and Bulgaria (-7.6%). The highest increases were observed in Slovenia (+12.2%), Greece (+10.5%) and Denmark (+5.3%).