The Statistical Office of the European Communities, Eurostat, has released its latest analysis of the industrial production index in the European Union member states (EU-27) and in the euro area. Eurostat's analysis illustrates that the EU-27's industrial production index peaked around January 2008, after which it fell almost uninterrupted for 14 months, before reaching the lowest point in April 2009, around 19.0 percent below its seasonally adjusted pre-downturn peak. Overall growth between this low point and the latest data available (for March 2011) totaled 13.3 percent.
The analysis underlines that the overall development in industrial output reflects a wide range of developments experienced in different parts of the EU's industrial economy. According to the latest annual rates of change in the index of production comparing March 2011 with March 2010, the manufacture of fabricated metal products and basic metals experienced some of the largest falls in output during the recession, but despite strong growth over the last year their output remained some way below their pre-downturn peak.