Industrial Production in Eurozone, EU Pick Up in December

Source: Eurostat

Industrial production in both the euro area and the European Union picked up in December 2021, mainly driven by the strength of capital goods during the period. EZU closed up 2.73%, and VGK up 2.31%.

• Industrial production in the euro area climbed by 1.2% in December compared with the previous month, and by 1.6% compared with year-ago levels.
• Production in the European Union increased by 0.7% versus the previous month and by 2.5% compared with the same month in 2020.
• Monthly growth was driven mainly by the growth of capital goods which rose by 2.6%, intermediate goods by 0.5%, and non-durable consumer goods by 0.4%.
• Increases were also recorded in the production of non-durable consumer goods and energy.
• The biggest monthly growths were recorded in Ireland, Lithuania, and Luxembourg. The biggest declines were in Czechia, Austria, and Italy.
• The annual growth was due mainly to the production of non-durable consumer goods, which climbed by 7.7%, durable consumer goods by 2.7%, and energy by 1.8%.