Industrial output climbs in Euro zone

Industrial output climbs in Euro zone

The data released by the EU statistics institution Eurostat shows that industrial output in 25 member states of European Union (EU) increased by 0.6% on a monthly basis in May, after a rise of 0.5% in April and of 0.2% in March. Euro zone's industrial output also soared by 0.7% monthly in the mentioned period. In May 2004, industrial production surged by 3.9% in the Euro zone and by 4.1% in the EU, compared to the same period of last year. Capital goods increased by 5.6% in the Euro zone and by 6.7% in the EU in May when compared with May 2003. Intermediate goods surged by 3.7% and 4% respectively. Durable consumer goods recorded a 3.9% rise in Euro zone and a 5.1% increase in EU while non-durable consumer goods rose by 2.8% and 1.8% respectively. The energy sector also indicated a 4.2% increase in Euro zone and 3.3% rise in EU. In the mentioned period, the highest annual increases were registered in Czech Republic with 15.3%, Poland with 15%, Hungary with 10.4%, Lithuania with 9.7% and Sweden with 8.2%. The member countries which showed decline in industrial output are; Portugal with 1.5% and Ireland with 0.2%.