Declining EU industrial production offset by rising energy market

Member states in the euro area experienced a 0.6 percent decrease in industrial production from May 2017 to June 2017 but a 2.9 percent increase in June 2017 compared to June 2016, according to the European Union’s statistical office Eurostat.    Industrial production in the European Union (EU) was down by 0.6 percent in June 2017 compared to May 2017, according to estimates from statistical office of the EU, Eurostat.
   Compared to June 2016, industrial production increased by 2.6 percent in the euro area and by 2.9 percent in the EU28.
   The 0.6 percent month-over-month decrease in June was the result of capital goods falling 1.9 percent, durable goods 1.2 percent, non-durable consumer goods 0.4 percent and intermediate goods 0.3 percent, Eurostat said. Production of energy rose by 1.8 percent, offsetting the overall decrease for the month.
   According to Eurostat, the largest decreases in industrial production were found in Ireland, the Czech Republic, and Malta. The highest increases in production were seen in Luxembourg, Estonia, Croatia and the Netherlands.
   The increase in production year-over-year is characterized by energy production rising 5.1 percent, durable consumer goods 4.0 percent and intermediate goods 3.8 percent. The highest increases in industrial production were seen in Estonia, Romania, and Sweden, Ireland and Malta.