Industrial output indicates rise in EU

Industrial output indicates rise in EU

The data released by the EU statistics institution Eurostat indicates that industrial output in 25 member states of European Union (EU) grew by 0.1% in July, after a fall of 0.1% in June and a rise of 0.5% in May. In July, Euro zone’s industrial output increased by 0.4% compared to June 2004. In July, industrial output increased by 2.4% in the Euro zone and by 2.3% in EU compared to the same period of last year. In the aforementioned period, as compared to July 2003, capital goods increased by 4.2% in the Euro zone and by 4.6% in the EU. Intermediate goods surged by 2.9% and 3% respectively. Durable consumer goods recorded a 1.6% increase in Euro zone and a 2.4% rise in EU while non-durable consumer goods dropped by 1% in the Euro zone and by 1.6% in the EU. The energy sector rose by 1.1% and 1% respectively. The highest annual increases were registered in Czech Republic with 13.5%, Ireland with 9.9%, Poland with 8.5% and Hungary with 8%. The member states which showed decline in industrial output are; Portugal with 3.2%, Italy with 1.2%, Greece with 0.6% and the UK with 0.2%.