Industrial Production Falls by 1.8% in Euro Area, by 1.4% in EU28: Eurostat

© Flickr / vx_lentzIndustrial production in the euro area decreased by 1.8 percent in August, according to Eurostat.
Industrial production in the euro area decreased by 1.8 percent in August, according to Eurostat. - Sputnik International
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Industrial production in the euro area decreased by 1.8 percent in August, and across the whole of the European Union (EU) by 1.4%, a recent survey conducted by Eurostat showed Tuesday.

MOSCOW, October 14 (RIA Novosti) - Industrial production in the euro area decreased by 1.8 percent in August, and across the whole of the European Union (EU) by 1.4%, a recent survey conducted by Eurostat showed Tuesday.

"In August 2014 compared with July 2014, seasonally adjusted industrial production fell by 1.8% in the euro area (EA18) and by 1.4% in the EU28," the statement published on the statistical center's website said.

According to the report, the drop in the euro area was conditioned by the 4.8% fall in the production of capital goods themselves. The corresponding 0.7- and 0.2-percent falls in the production of intermediate and non-consumer goods also had a negative impact on the euro area's industrial production.

The organization, however, stated that an increase by 0.2 percent and 1.2 percent was observed in the production of durable consumer goods and energy in August.

The largest cuts in industrial production for August 2014, Eurostat noted, were registered in Hungary (-5.8 percent), Germany (-4.3 percent) and Croatia (-4.1%), with the highest rises in Denmark (+6.9 percent), Portugal (+3.1 percent) and the Netherlands (+1.3%).

Reporting about the falls in the industrial production of the EU28, the center indicated that the 1.4-percent fall was caused by the 4.3-percent drop in the production of capital goods and the 0.4-percent drop in the production of intermediate goods. Non-durable and durable consumer goods increased by 0.2 percent and 0.6 percent respectively, with the energy sector also securing an increase, which reached 1.2 percent.

Compared with August 2013, the largest fall in the 28-member bloc in 2014 was registered in Malta (-7.0 percent), with Ireland registering the largest rise, which stood at +18.3 percent.

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