European
Eurozone industrial production fell 0.5% in November
By Finfacts Team
Jan 14, 2008, 12:49

In the year to November 2007, industrial production rose by 2.7% in the Eurozone and by 2.6% in the EU27.

These estimates are released by Eurostat, the Statistical Office of the European Union.

Monthly comparison

In November 2007 compared with October 2007, production of energy increased by 0.4% in the Eurozone and by 0.3% in the EU27. Non-durable consumer goods grew by 0.1% and 0.2% respectively. Intermediate goods fell by 0.6% in the Eurozone and by 0.5% in the EU27. Capital goods decreased by 0.7% and 0.6% respectively. Durable consumer goods declined by 1.9% in the Eurozone and by 1.4% in the EU27.

In November 2007, and among the Member States for which data are available, industrial production rose in five and fell in fourteen. The highest increases were registered in the Netherlands and Sweden (both +1.8%), while the largest decreases were recorded in Portugal (-3.3%), Lithuania (-3.0%) and Slovenia (-2.7%).

Annual comparison

In November 2007 compared with November 2006, production of energy increased by 6.2% in the Eurozone and by 4.2% in the EU27. Capital goods grew by 3.7% and 4.2% respectively. Non-durable consumer goods rose by 1.9% in the Eurozone and by 1.2% in the EU27. Intermediate goods gained 1.8% in both zones. Durable consumer goods fell by 3.4% in the Eurozone and by 1.0% in the EU27.

In November 2007, and among the Member States for which data are available, industrial production rose in thirteen and fell in six. The highest increases were registered in Ireland (+14.7%), Slovakia (+13.2%) and the Netherlands (+10.0%), while the largest decreases were recorded in Italy (-2.4%), Portugal (-2.0%) and Finland (-1.4%).

1. Total industry (excluding construction). According to the Council Regulation 1165/98 Eurostat publishes national seasonally adjusted data if available. For the other Member States (Bulgaria, the Czech Republic, Greece, Spain, Cyprus and Luxembourg) Eurostat performs the adjustment. This means that different methodologies are used to make the seasonal adjustment of the national series.

The seasonally adjusted Eurozone and EU series are calculated by aggregating the working day adjusted series from individual Member States and performing an adjustment for seasonal effects on these series. Therefore the seasonally adjusted figures for total industry (excluding construction) is based directly on the working day adjusted series coming from the Member States and not on an aggregation of the seasonally adjusted indices from the Member States. The Eurozone and EU seasonally adjusted growth rates might differ from the weighted growth rates of the individual Member States (see Methodology of the industrial production index). This procedure also implies that the aggregation of the overall figures is not based on the published details (intermediate, capital, durable, non-durable goods, energy).

Missing observations from Member States are estimated for the calculation of the Eurozone and the EU aggregates.

1. The Eurozone (EA13) consisted of 13 Member States up to 31 December 2007: Belgium, Germany, Ireland, Greece, Spain, France, Italy, Luxembourg, the Netherlands, Austria, Portugal, Slovenia and Finland. From 1 January 2008 the Eurozone (EA15) also includes Cyprus and Malta. The EU27 includes Belgium (BE), the Czech Republic (CZ), Denmark (DK), Germany (DE), Estonia (EE), Ireland (IE), Greece (EL), Spain (ES), France (FR), Italy (IT), Cyprus (CY), Latvia (LV), Lithuania (LT), Luxembourg (LU), Hungary (HU), Malta (MT), the Netherlands (NL), Austria (AT), Poland (PL), Portugal (PT), Slovenia (SI), Slovakia (SK), Finland (FI), Sweden (SE) and the United Kingdom (UK).

As part of Eurostat's guidelines for the dissemination of data when the EU or Eurozone is enlarged, the aggregate data series commented refer to the official composition of the Eurozone in the most recent month for which data is available.

1. Data of previous months have been revised compared to those issued on 12 December 2007. The figures for October 2007 were +0.4% in the Eurozone and +0.5% in the EU27 for the monthly changes, and +3.8% in the Eurozone and +3.6% in the EU27 for the yearly changes.