Industrial production shows signs of recovery in July


Eurostat has recently published the July data of the European industrial production.
According to estimates of the statistical office of the European Union, in July 2020, a month marked by some relaxation of COVID-19 containment measures in many Member States, the seasonally adjusted industrial production rose by 4.1% in both the euro area and EU, compared with June 2020. In June 2020, industrial production rose by 9.5% in the euro area and by 9.6% in the EU.


If we compared these data with those of 2019, Eurostat reveals a decrease of 7.7% in the euro area and by 7.3% in the EU.
In the Euro area, the sector of durable goods recorded a good performance, growing by 4.7% compared with June 2020. Only capital goods rose more (+5.3%), while intermediate goods rose by 4.2%, non-durable consumer goods by 3.9% and energy by 1.1%.
In the EU, production of capital goods rose by 5.6%, durable consumer goods by 4.8%, intermediate goods by 3.9%, non-durable consumer goods by 2.8% and energy by 1.3%.
The highest increases were registered in Portugal (+11.9%), Spain (+9.4%) and Ireland (+8.3%). Decreases were observed in Denmark (-4.9%), Latvia (-0.8%) and Belgium (-0.5%).
The results is less positive if we look the annual comparison. In the euro area in July 2020, compared with July 2019, production of durable consumer goods fell by 3.8%, but the performance was better than that of capital goods (-10.4%) and intermediate goods (-9.3%).