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European Industrial production, GDP rise in third quarter

Wednesday, 12 December, 2018 - 16:09

Seasonally adjusted industrial production rose by 0.2 percent in both the euro area and the EU28 in October, according to estimates from Eurostat, the statistical office of the European Union. The slight uptick comes after a fall of 0.6 percent was recorded in September in the euro area and a fall of 0.4 percent in the EU28. Year over year, industrial production rose by 1.2 percent in the euro area and by 1.3 percent in the EU28, compared to October 2017.

Among Member States for which data are available, the highest increases in industrial production were registered in Lithuania (+7.4%), Slovenia (+2.5%), Hungary and Sweden (both +2.1%). The largest decreases were observed in Finland (-2.6%), Greece (-1.5%), Latvia (-1.2%) and Czechia (-1.1%).

Last week, Eurostat released GDP growth figures for the Eurozone and the EU 28 in the third quarter. According to the report, GDP rose by 0.2 percent in the euro area and by 0.3 percent in the EU28 compared with the previous quarter. In the second quarter of 2018, GDP had grown by 0.4 percent in the euro area and by 0.5 percent in the EU28. Compared with the same quarter of the previous year, seasonally adjusted GDP rose by 1.6 percent in the euro area and by 1.8 percent in the EU28, after  growing by 2.2 percent and 2.1 percent respectively in the previous quarter.

Among Member States for which data are available for the third quarter of 2018, Malta (+3.6%) recorded the highest growth compared with the previous quarter, followed by Romania (+1.9%), Latvia and Poland (both +1.7%). Negative growth was observed in Lithuania (-0.3%), Germany and Sweden (both -0.2%) and Italy (-0.1%).


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