- DG Enterprise&Industry.
The latest data show that the pace of the recovery in manufacturing industry is still very strong. However, industrial confidence shows some first signs of a slow down and it declined slightly in July, probably in reaction to the troubles in financial markets.
Data on manufacturing production for May 2010 show growth of almost 9% over the previous year and an improvement of some 3.5% over the last three months. The growth trend in manufacturing production has been positive since April 2009. However, in May 2010 it was still some 13% below its former peak in early 2008. Importantly, sectors affected most are now also recovering the most rapidly. There are also some tentative indications that construction output has now begun to stabilise after a very substantial fall of some 16% from its earlier peak. The latest data and forecasts for tourism from the beginning of 2010 indicate that the revival is underway in this sector as well (...)