Europe Industrial Output Down Over 20% In May

Industrial production in Europe continued to fall on an annual basis in May despite a monthly rise fueled by eased COVID-19 containment measures, Eurostat reported on Tuesday.

EU industrial output dropped 20.5% in May from the same month last year, while rising 11.4% month-on-month.

"In the EU27, production of capital goods fell by 29.5%, durable consumer goods by 23.2%, intermediate goods by 18.5%, non-durable consumer goods by 13.4% and energy by 10.6%," the statistical office said, giving year-on-year figures.

Industrial production fell in all member states for which data are available, with the largest decreases seen in Slovakia (minus 33.5%), Hungary (minus 27.6%), and Romania (minus 27.4%).

Industrial output in the eurozone also fell 20.9% year-on-year in May while climbing 12.4% from the previous month. -