As coronavirus-related shutdowns expanded across 27-member bloc, industrial production slipped nearly 12% year-on-year
The EU’s industrial production slipped 11.8% year-on-year in March, as the month saw widespread implementation of COVID-19 containment measures across the 27-member bloc.
According to the bloc’s statistical office Eurostat, calendar-adjusted industrial production index fell to 100.6 in March.
“In the EU27, durable consumer goods fell by 21.7%, capital goods by 20.0%, intermediate goods by 10.1%, energy by 6.4% and non-durable consumer goods by 0.3%,” it said on Wednesday.
Among member states, Luxembourg saw the largest fall with 32.7% over the same period, followed by Italy (-29.3%) and Slovakia (-19.6%).
The largest increases were seen in Ireland (25.3%), Malta (5.7%), and Finland (2.8%).
Eurostat data showed that the figure was also gloomy for the eurozone, which posted an annual decrease of 12.9% in March.
On a monthly basis, industrial production slipped 10.4% in EU and 11.3% in the eurozone, it added.