Industrial production down by 3.2% in the euro area and by 2.1% in the EU

Overview

In January 2024, compared with December 2023, seasonally adjusted industrial production decreased by 3.2% in the euro area and by 2.1% in the EU, according to first estimates from Eurostat, the statistical office of the European Union. In December 2023, industrial production grew by 1.6% in both the euro area and the EU.

In January 2024, compared with January 2023, industrial production decreased by 6.7% in the euro area and by 5.7% in the EU.

Industrial production

Monthly comparison by main industrial grouping and by Member State

In the euro area in January 2024, compared with December 2023, industrial production

increased by 2.6% for intermediate goods,
increased by 0.5% for energy,
decreased by 14.5% for capital goods,
decreased by 1.2% for durable consumer goods,
decreased by 0.3% for non-durable consumer goods.

In the EU, industrial production

increased by 2.9% for intermediate goods,
increased by 0.6% for energy,
decreased by 12.8% for capital goods,
decreased by 0.1% for durable consumer goods,
decreased by 0.5% for non-durable consumer goods.

Among Member States for which data are available, the largest monthly decreases were recorded in Ireland (-29.0%), Malta (-9.4%) and Estonia (-6.6%). The highest increases were observed in Poland (+13.3%), Slovenia (+10.6%) and Lithuania (+7.2%).

Annual comparison by main industrial grouping and by Member State

In the euro area in January 2024, compared with January 2023, industrial production

decreased by 2.5% for intermediate goods,
increased by 0.3% for energy,
decreased by 12.1% for capital goods,
decreased by 8.4% for durable consumer goods,
decreased by 3.1% for non-durable consumer goods.

In the EU, industrial production

decreased by 3.3% for intermediate goods,
increased by 0.6% for energy,
decreased by 10.1% for capital goods,
decreased by 8.1% for durable consumer goods,
decreased by 1.3% for non-durable consumer goods.

Among Member States for which data are available, the largest annual decreases were recorded in Ireland (-34.1%), Estonia (-8.6%) and Bulgaria (-7.6%). The highest increases were observed in Slovenia (+12.2%), Greece (+10.5%) and Denmark (+5.3%).

Industrial production in January 2024

Tables

Industrial production % change compared with previous month*
	Aug-23	Sep-23	Oct-23	Nov-23	Dec-23	Jan-24
Euro area
Total industry	0.2	-0.6	-0.5	0.4	1.6	-3.2
Intermediate goods	-0.6	0.0	-0.5	-0.7	-1.4	2.6
Energy	-0.1	-1.6	1.0	2.3	0.8	0.5
Capital goods	0.1	0.2	-0.9	0.5	11.3	-14.5
Durable consumer goods	0.7	-2.0	-0.3	-2.0	1.0	-1.2
Non-durable consumer goods	0.6	-0.7	1.4	3.1	-2.2	-0.3
EU
Total industry	0.5	-0.7	-0.3	0.1	1.6	-2.1
Intermediate goods	-0.1	-0.3	-0.5	-0.9	-0.9	2.9
Energy	0.1	-1.6	1.2	1.7	0.6	0.6
Capital goods	0.3	0.4	-0.6	-0.2	10.2	-12.8
Durable consumer goods	1.4	-2.3	-0.4	-1.6	0.9	-0.1
Non-durable consumer goods	0.7	-0.6	1.4	3.0	-1.9	-0.5
* Calendar and seasonally adjusted Source dataset: sts_inpr_m

Industrial production % change compared with previous month*
	Aug-23	Sep-23	Oct-23	Nov-23	Dec-23	Jan-24
Euro area	0.2	-0.6	-0.5	0.4	1.6	-3.2
EU	0.5	-0.7	-0.3	0.1	1.6	-2.1
Belgium	-3.9	-0.8	5.2	-4.2	4.9	-2.0
Bulgaria	1.4	-2.1	1.9	-4.4	4.0	-2.5
Czechia	c	c	c	c	c	c
Denmark	-0.7	-0.7	4.9	3.1	0.8	-3.8
Germany	-0.1	-1.1	0.0	0.1	-1.8	0.6
Estonia	2.1	-3.4	0.0	2.8	5.2	-6.6
Ireland**	5.2	-2.1	-6.9	7.4	19.0	-29.0
Greece	1.0	-2.2	6.1	-4.1	1.0	3.5
Spain	-1.0	0.8	0.4	0.4	-1.1	0.9
France	0.3	-0.2	-0.6	0.7	0.3	-1.0
Croatia	-2.4	3.6	-0.9	2.1	-4.0	0.0
Italy	c	c	c	c	c	c
Cyprus	0.3	1.3	-0.8	0.1	0.5	-1.4
Latvia	-11.5	2.3	-0.5	-1.7	1.2	-2.7
Lithuania	3.8	1.1	-3.7	-0.1	-2.6	7.2
Luxembourg	0.4	-3.2	3.6	-0.8	1.4	-2.7
Hungary	-3.6	1.6	0.2	-2.6	0.2	-1.1
Malta	0.0	1.7	-2.9	2.4	5.2	-9.4
Netherlands	-0.6	-1.2	-1.0	0.1	3.9	-4.0
Austria	0.4	0.5	-1.5	-1.5	2.4	-0.8
Poland	3.1	0.0	-1.8	-2.1	0.4	13.3
Portugal	-0.9	-2.9	3.2	4.3	-1.1	1.4
Romania	-0.6	1.7	-2.3	-0.2	1.6	-3.4
Slovenia	-3.8	5.3	-0.1	2.9	-1.8	10.6
Slovakia	4.3	-1.6	2.1	-3.0	4.1	-2.8
Finland	1.8	-1.1	0.6	-0.2	-2.8	2.5
Sweden	2.3	-2.7	1.3	-0.2	1.9	-0.2
Norway	0.1	-12.5	12.5	2.5	1.5	2.1
Switzerland	2.8	2.2	-1.2	-4.8	5.6	:
* Calendar and seasonally adjusted ** CSO Ireland is carrying out a review of the seasonal adjustment methodology for industrial production. : Data not available c Confidential Source dataset: sts_inpr_m

Industrial production % change compared with same month of the previous year*
	Aug-23	Sep-23	Oct-23	Nov-23	Dec-23	Jan-24
Euro area
Total industry	-5.1	-6.9	-6.3	-5.3	0.2	-6.7
Intermediate goods	-5.7	-4.8	-4.3	-5.4	-3.4	-2.5
Energy	-7.0	-7.6	-1.2	0.8	-1.6	0.3
Capital goods	-3.0	-6.2	-6.4	-4.7	4.8	-12.1
Durable consumer goods	-7.9	-8.1	-7.3	-9.3	-6.2	-8.4
Non-durable consumer goods	-2.1	-5.9	-8.4	-7.1	-5.1	-3.1
EU
Total industry	-3.6	-5.6	-4.7	-4.2	0.6	-5.7
Intermediate goods	-5.0	-4.6	-4.1	-5.7	-3.6	-3.3
Energy	-6.2	-6.6	-1.0	0.0	-1.9	0.6
Capital goods	-1.0	-4.3	-4.2	-3.3	5.1	-10.1
Durable consumer goods	-8.0	-8.9	-8.3	-9.5	-7.5	-8.1
Non-durable consumer goods	-0.2	-3.8	-5.6	-4.1	-2.5	-1.3
* Calendar adjusted Source dataset: sts_inpr_m

Industrial production % change compared with same month of the previous year*
	Aug-23	Sep-23	Oct-23	Nov-23	Dec-23	Jan-24
Euro area	-5.1	-6.9	-6.3	-5.3	0.2	-6.7
EU	-3.6	-5.6	-4.7	-4.2	0.6	-5.7
Belgium	-6.2	-16.0	-9.3	-15.0	-5.5	-2.7
Bulgaria	-9.6	-10.6	-5.2	-12.0	-5.4	-7.6
Czechia	c	c	c	c	c	c
Denmark	6.3	1.2	10.6	12.2	8.8	5.3
Germany	-2.1	-4.8	-3.8	-4.8	-4.3	-5.4
Estonia	-12.1	-13.7	-12.7	-5.9	-3.0	-8.6
Ireland	-27.6	-26.9	-34.1	-19.9	36.0	-34.1
Greece	-0.3	1.8	10.7	3.3	4.6	10.5
Spain	-4.5	-2.7	-1.4	0.2	-2.2	0.0
France	-0.3	-0.2	2.9	1.3	0.5	1.0
Croatia	-2.5	1.6	1.0	4.7	-1.0	-1.3
Italy	c	c	c	c	c	c
Cyprus	3.3	4.7	3.2	1.0	2.1	-0.5
Latvia	-5.8	0.0	-0.8	-6.1	-1.2	-5.0
Lithuania	-8.8	-1.0	-3.4	-3.5	-5.1	4.4
Luxembourg	-5.7	-10.3	-3.8	-4.9	-1.0	-4.0
Hungary	-7.1	-6.3	-2.1	-5.0	-7.7	-4.2
Malta	1.2	2.0	-0.8	5.6	9.9	-5.6
Netherlands	-3.2	-5.9	-5.3	-5.1	-2.5	-4.2
Austria	-1.5	-0.9	-2.6	-5.7	-1.4	-2.6
Poland	9.8	9.3	7.1	2.5	2.8	0.6
Portugal	-4.9	-6.0	-1.2	-0.7	-4.5	-1.5
Romania	-3.2	0.0	-2.0	-2.5	1.0	-4.0
Slovenia	-13.2	-5.4	-4.9	-1.4	-3.8	12.2
Slovakia	3.4	2.8	8.4	1.9	4.9	3.5
Finland	0.2	-3.0	0.5	1.0	-6.6	-2.3
Sweden	1.4	-4.1	-0.8	2.8	3.5	-0.8
Norway	-1.8	-15.1	-1.6	2.5	7.9	8.3
Switzerland	2.4	1.4	0.8	-1.2	-0.3	:
* Calendar adjusted : Data not available c Confidential Source dataset: sts_inpr_m

Production indices for total industry, calendar and seasonally adjusted (base year 2021)
	Aug-23	Sep-23	Oct-23	Nov-23	Dec-23	Jan-24
Euro area	98.8	98.2	97.7	98.1	99.7	96.5
EU	100.6	99.9	99.6	99.7	101.3	99.2
Belgium	88.4	87.7	92.3	88.4	92.7	90.8
Bulgaria	103.6	101.4	103.3	98.8	102.8	100.2
Czechia	c	c	c	c	c	c
Denmark	120.3	119.4	125.2	129.1	130.1	125.1
Germany	96.0	94.9	94.9	95.0	93.3	93.9
Estonia	88.5	85.5	85.5	87.9	92.5	86.4
Ireland*	107.3	105.0	97.8	105.0	125.0	88.8
Greece	106.0	103.7	110	105.5	106.6	110.3
Spain	99.8	100.6	101.0	101.4	100.3	101.2
France	101	100.8	100.2	100.9	101.2	100.2
Croatia	98.7	102.3	101.4	103.5	99.4	99.4
Italy	c	c	c	c	c	c
Cyprus	104.5	105.9	105.0	105.1	105.6	104.1
Latvia	94.5	96.7	96.2	94.6	95.7	93.1
Lithuania	103.9	105.0	101.1	101.0	98.4	105.5
Luxembourg	92.8	89.8	93.0	92.3	93.6	91.1
Hungary	99.2	100.8	101.0	98.4	98.6	97.5
Malta	106.9	108.7	105.5	108.0	113.6	102.9
Netherlands	100.3	99.1	98.1	98.2	102.0	97.9
Austria	103.2	103.7	102.1	100.6	103.0	102.2
Poland	120.0	120.0	117.8	115.3	115.8	131.2
Portugal	96.0	93.2	96.2	100.3	99.2	100.6
Romania	98.4	100.1	97.8	97.6	99.2	95.8
Slovenia	91.1	95.9	95.8	98.6	96.8	107.1
Slovakia	98.1	96.5	98.5	95.5	99.4	96.6
Finland	102.8	101.7	102.3	102.1	99.2	101.7
Sweden	103.3	100.5	101.8	101.6	103.5	103.3
Norway	101.6	88.9	100.0	102.5	104.0	106.2
Switzerland	108.1	110.5	109.2	104.0	109.8	:
* CSO Ireland is carrying out a review of the seasonal adjustment methodology for industrial production. : Data not available c Confidential Source dataset: sts_inpr_m

Production indices for total industry, calendar adjusted (base year 2021)
	Aug-23	Sep-23	Oct-23	Nov-23	Dec-23	Jan-24
Euro area	82.3	104.1	103.4	105.1	95.1	94.0
EU	85.2	105.5	105.3	106.5	97.0	96.4
Belgium	80.6	91.9	99.5	89.2	91.1	87.8
Bulgaria	101.3	101.1	107.3	102.2	105.4	95.4
Czechia	c	c	c	c	c	c
Denmark	116.0	122.5	125.2	133.6	134.0	125.6
Germany	88.6	99.3	97.7	101.5	89.3	87.9
Estonia	86.9	88.3	91.4	91.4	88.8	82.9
Ireland	74.1	135.6	116.0	136.0	116.8	102.0
Greece	100.4	106.3	109.4	103.0	106.7	100.7
Spain	79.1	103.8	105.2	106.4	92.1	99.8
France	78.9	102.1	105.7	104.9	102.5	103.3
Croatia	86.4	105.1	108.7	107.1	95.1	90.2
Italy	c	c	c	c	c	c
Cyprus	88.7	112.6	107.9	106.0	106.6	95.0
Latvia	99.0	102.2	103.1	100.8	102.1	72.6
Lithuania	103.2	106.8	107.0	105.6	98.7	102.9
Luxembourg	80.6	92.8	99.3	95.1	86.5	86.7
Hungary	88.2	109.2	105.9	103.6	89.3	92.2
Malta	101.2	114.9	112.0	110.5	102.2	98.3
Netherlands	90.7	101.1	101.9	102.0	102.9	95.4
Austria	91.4	107.8	106.7	106.4	102.8	93.2
Poland	113.4	124.0	124.5	118.5	108.9	124.2
Portugal	81.7	95.2	97.6	102.7	90.6	101.5
Romania	89.8	102.6	102.9	102.5	94.5	91.4
Slovenia	74.8	98.2	99.5	102.4	85.6	107.0
Slovakia	91.8	95.8	105.5	102.8	87.6	96.6
Finland	98.9	104.7	106.5	104.7	108.5	98.3
Sweden	87.7	102.8	108.9	108.3	106.6	101.8
Norway	100.0	82.3	104.3	107.1	109.9	115.9
Switzerland	94.7	116.7	115.6	107.6	108.2	:
: Data not available c Confidential Source dataset: sts_inpr_m

Notes for users

Revisions and timetable

Compared with data issued in the News Release of 14 February 2024, the monthly percentage change for December 2023 has been revised from 2.6% to 1.6% in both the euro area and the EU. The annual percentage change has been revised from 1.2% to 0.2% in the euro area and from 1.2% to 0.6% in the EU.

Methods and definitions

The index of industrial production measures the evolution of the volume of production for industry excluding construction, based on data adjusted for calendar and seasonal effects.

Seasonally adjusted euro area and EU series are calculated by aggregating the seasonally adjusted national data.

Total industry covers NACE rev.2 sections B to D. Missing observations from Member States for recent months are estimated for the calculation of the euro area and the EU aggregates.

Starting with this release, the base year of the data has been changed to 2021, since 2018 the base year had been 2015. More information on the reasons for and impact of the base year change can be found in the related Statistics Explained article.

Geographical information

The euro area (EA20) includes Belgium, Germany, Estonia, Ireland, Greece, Spain, France, Croatia, Italy, Cyprus, Latvia, Lithuania, Luxembourg, Malta, the Netherlands, Austria, Portugal, Slovenia, Slovakia and Finland.

The European Union (EU27) includes Belgium, Bulgaria, Czechia, Denmark, Germany, Estonia, Ireland, Greece, Spain, France, Croatia, Italy, Cyprus, Latvia, Lithuania, Luxembourg, Hungary, Malta, the Netherlands, Austria, Poland, Portugal, Romania, Slovenia, Slovakia, Finland and Sweden.