Davis Index: Market Intelligence for the Global Metals and Recycled Materials Markets

Industrial production in the European Union (EU) rose by 9.1pc in June, compared with May 2020, displaying an initial recovery from the effects of the COVID-19 related shutdowns in the past quarter. 


In the Euro area, industrial production increased in durable consumer groups by 20.2pc, in capital goods by14.2pc, in intermediate goods by 6.7pc, in non-durable goods by 4.8pc, and in energy by 2.6pc in June compared with the previous month. 


Slovakia witnessed the best recovery rate in Europe, registering an increase of 21.7pc in its industrial output, followed closely by Hungary at 17.1pc and Romania at 16.3pc growth. 


However, when compared with June 2019, industrial production fell short in the eurozone by 15.9pc in capital goods, by 13.1pc in intermediate goods, by 8.9pc in durable consumer goods, by 7.6pc in energy, and by 7.5pc in non-durable goods. 


The largest declines were seen in western European countries with Portugal leading at 14.8pc decrease in growth, Germany and Spain both registering a 14.2pc decline, and Italy where growth fell by 13.7pc, compared with June 2019. Ireland was the only country where industrial output grew by 4.5pc in June 2020 compared with the same month last year. 


The eurozone is a group of countries that use the euro as its currency while the EU has member states which must adhere to certain standards laid out by the governing body. 

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