Industrial Production in Euro Area
The European economy recorded an average industrial production growth rate of 0.5% in the decade to 2024. In 2024, industrial production growth was -3.0%. For more industry information, visit our dedicated page.
Euro Area Industry Chart
Note: This chart displays Industrial Production (annual variation in %) for Euro Area from 2025 to 2024.
Source: Macrobond.
Euro Area Industry Data
| 2020 | 2021 | 2022 | 2023 | 2024 | |
|---|---|---|---|---|---|
| Industrial Production (ann. var. %) | -7.8 | 9.0 | 1.8 | -1.7 | -3.0 |
Industrial production shrinks in August
Latest reading: Industrial production declined 1.2% in seasonally adjusted month-on-month terms in August, following a 0.5% increase in the previous month. Relative to the prior month's figures, readings in August worsened for intermediate goods (-0.2% on a seasonally adjusted month-on-month basis vs +0.5% in July), capital goods (-2.2% vs +1.7% in July), non-durable consumer goods (+0.1% vs +1.8% in July) and durable consumer goods (-1.6% vs +1.2% in July). In contrast, the reading for energy improved in August (-0.6% vs -1.7% in July). Looking at specific countries, output fell in Germany, Italy, France and Spain, and it rose in the Netherlands. On a year-on-year basis, industrial production was up 1.1% in August, following a 2.0% increase in the prior month.
Panelist insight: Commenting on the outlook, ING’s Bert Colijn stated: “Sizeable eurozone investment plans will take time to materialise, which means that while optimism about the medium-term outlook for the eurozone industry has become brighter, there is no immediate reason for short-term optimism as trade with the US settles into a new regime. For the third quarter, this means that manufacturing is unlikely to have contributed positively to GDP growth, keeping expectations for growth very muted.”
How should you choose a forecaster if some are too optimistic while others are too pessimistic? FocusEconomics collects European industry projections for the next ten years from a panel of 14 analysts at the leading national, regional and global forecast institutions. These projections are then validated by our in-house team of economists and data analysts and averaged to provide one Consensus Forecast you can rely on for each indicator. By averaging all forecasts, upside and downside forecasting errors tend to cancel each other out, leading to the most reliable industry forecast available for European industry.
Download one of our sample reports to visualize what a Consensus Forecast is and see our European industry projections.
Want to get access to the full dataset of European industry forecasts? Send an email to info@focus-economics.com.
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