Europe’s industrial production rose by 12.4pc in the Euro area and by 11.4pc in the EU this May, according to the latest data from Eurostat.
The recent rise in production compared to an 18.2pc fall in April 2020, Eurostat reported. Industrial production in May, however, declined by 20.9pc in the Euro area and 20.5pc in the EU compared to May 2019.
In the Euro area, production of durable consumer goods surged by 54.2pc while the capital goods production was up by 25.4pc in May 2020 compared to the previous month. Intermediate goods production also moved up by 10pc in May this year and non-durable consumer goods rose by 2.8pc compared to April 2020.
In the EU, the industrial production of durable goods surged by 47.4pc and capital goods ticked up by 24.8pc in May 2020 compared to the previous month. Production of intermediate goods moved up by 8.7pc while non-durable consumer goods output rose by 1.8pc in May compared to the previous month.
In the Euro area, the industrial production of capital goods decreased by 28.4pc, and durable consumer goods output fell by 24pc in May compared to the same period in 2019. Production of intermediate goods declined by 19.7pc and non-durable consumer goods fell by 14.4pc in May compared to May 2019.
In the EU, industrial production of capital goods fell by 29.5pc while durable consumer goods output declined by 23.2pc in May compared to the same month last year. Intermediate goods and non-durable consumer goods production fell 18.5pc and 13.4pc, respectively, in May compared to the same period last year.