According to comprehensive reports from WorldWay, based on data from Eurostat, industrial production in the Eurozone fell by 1.8% in August compared to July, while the EU saw a decline of 1.4%. In stark contrast, Portugal "shone brightly" with a growth of 3.1%. Portugal recorded the second highest month-on-month growth in Europe in August, having already increased by 1.7% in July.
However, the outlook across Europe is not very optimistic. These figures may indicate a new trend, as in July, both the Eurozone and the EU saw growth compared to June.
Year-on-year, industrial production in Portugal grew by 3.9%. In contrast, industrial production in the Eurozone and the EU fell by 1.9% and 0.8%, respectively.
Eurostat pointed out that the 1.8% decline in industrial production in the Eurozone was mainly due to several factors: a 4.8% drop in the manufacturing of capital goods, a 0.7% decline in intermediate goods, and a 0.2% decrease in non-durable consumer goods. However, the production of durable consumer goods increased by 0.2%, and energy production rose by 1.2%.
Edited by WorldWay
