OT Eurowatch:
March-May to June-August 1999
Euro-zone industrial production up by 1.0%
+0.9% for EU15
The euro-zone1 industrial production trend2 rose by 1.0 % in June to August compared to the previous three months, Eurostat ? Statistical Office of the European Communities in Luxembourg ? estimates today. The corresponding figure for EU15 was 0.9%.
Estimates for the previous period (May-July) have been revised upwards to 0.7% for both euro-zone and EU15.
Especially strong output was reported from Italy (2.1%) and Spain (1.6%). Industrial production increased for all reporting Member States except Sweden. Germany was up 0.2%; taking into account the upward revision for the preceding period, a positive growth rate has now been recorded in Germany for two periods in a row, after negative growth since October 1998.
Production trend2 ? % changes March-May to June-August 1999
Member States with available data, in descending order Euro-zone 1.0 Netherlands 0.5
EU15 0.9 Finland 0.5
Italy 2.1 Denmark 0.2
Spain 1.6 Germany 0.2
France 0.9 Sweden -0.8
UK 0.7 USA 1.2
Belgium 0.5 Japan 1.6
Activity in durable consumer goods increased by 2.4% in the euro-zone and 1.3% in EU15. Non-durable consumer goods were up 0.8% in the euro-zone and 1.0% in EU15. While intermediate goods were 0.9% higher in the euro-zone and 0.7% higher in EU15, production in the capital goods sector fell by 0.3% in the euro-zone and 0.4% in EU15.
Annual changes
Euro-zone and EU15 industrial production adjusted for working days in August3 was up 2.5% and 1.9% respectively compared to August 1998. Growth in July was revised upwards to 0.3% for the euro-zone and 0.2% for EU15.
Rates were especially strong in Italy (7.3%) and Spain (4.3%). France (2.5%), Finland (2.2%), Germany (1.4%), UK (1.4%) and Belgium (0.7%) also recorded increases. The Netherlands
(-0.3%), Denmark (-3.9%) and Sweden (-6.1%) were the Member States which reported negative year on year growth rates in August.
Production adjusted for working days ?
% changes August 1999 compared with August 1998
Member States with available data in descending order of growth EUR11 2.5 UK 1.4
EU15 1.9 Belgium 0.7
Italy 7.3 Netherlands -0.3
Spain 4.3 Denmark -3.9
France 2.5 Sweden -6.1
Finland 2.2 USA 2.7
Germany 1.4 Japan 4.9
Due to strong Italian and German results, production of durable consumer goods increased by 11.8% in the euro-zone and by 9.3% in EU15. Activity in non-durable consumer goods was 3.1% higher in the euro-zone and 2.1% in EU15. Activity in intermediate goods in the euro-zone increased by 2.6% and for capital goods edged up 0.3%. The corresponding figures for EU15 were 2.0% and 0.3%.
1 Euro-zone: Belgium, Germany, Spain, France, Ireland, Italy, Luxembourg, Netherlands, Austria, Portugal and Finland.
2 Production volume of total industry, excluding construction, adjusted for seasonal and one-off fluctuations.
3 Growth rates for August on a year to year basis are subject to large fluctuations due to the impact of holidays.
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Source: Eurostat
Date: 28 October 1999
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