Eurozone industrial production up by 12.4% in May

According to the report from Eurostat, in May 2020, when Member States began easing the COVID-19 containment measures, the seasonally adjusted industrial production rose by 12.4% in the euro area and by 11.4% in the EU, compared with April 2020. Economists had expected a 15.0% increase in the euro area. In April 2020, industrial production fell by 18.2% both in the euro area and in the EU. In May 2020 compared with May 2019, industrial production decreased by 20.9% in the euro area and by 20.5% in the EU. 

In the euro area in May 2020, compared with April 2020, production of durable consumer goods rose by 54.2%, capital goods by 25.4%, intermediate goods by 10.0%, non-durable consumer goods by 2.8% and energy by 2.3%. In the EU, production of durable consumer goods rose by 47.7%, capital goods by 24.8%, intermediate goods by 8.7%, energy by 2.5% and non-durable consumer goods by 1.8%.

In the euro area in May 2020, compared with May 2019, production of capital goods fell by 28.4%, durable consumer goods by 24.0%, intermediate goods by 19.7%, non-durable consumer goods by 14.4% and energy by 10.3%. In the EU, 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%.