Industrial Production (annual variation in %)
Industrial production measures the output of the industrial sector, which typically comprises mining, manufacturing, utilities and, in some cases, construction. The industrial production indicator is generally provided as an index in volume terms. Annual variation in industrial production as a percentage thus reflects the change in the volume of industrial output as compared to the previous year.
Annual variation in industrial production provides insight into the state of the economic cycle as the production of consumer durables and capital goods is likely to decrease during an economic downturn. Despite the fact that the industrial sector only accounts for a portion of an economy’s total output, it is a leading indicator of Gross Domestic Product (GDP) growth and economic performance due to its sensitivity to consumer demand and interest rates.
The table below shows the percent changes in industrial production per country for the last five years.
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Industry Data
| 2013 | 2014 | 2015 | 2016 | 2017 | |
|---|---|---|---|---|---|
| Algeria | 2.2 | -1.4 | 0.6 | 1.5 | 2.3 |
| Argentina | 0.0 | -1.8 | 0.4 | -4.6 | 1.8 |
| Armenia | 7.3 | 2.6 | 5.1 | 6.8 | 12.6 |
| Australia | 1.0 | 3.7 | 0.8 | 1.5 | 1.1 |
| Austria | 0.4 | -0.4 | 2.1 | 2.7 | 4.4 |
| Azerbaijan | 1.8 | -0.7 | 2.4 | -0.5 | -3.4 |
| Bangladesh | 12.0 | 8.7 | 11.8 | 13.1 | 15.3 |
| Belarus | -4.9 | 2.0 | -6.6 | -0.4 | 6.1 |
| Belgium | -0.5 | 1.3 | -0.9 | 4.6 | 2.8 |
| Bosnia and Herzegovina | 6.6 | 0.3 | 3.1 | 4.5 | 3.1 |
| Brazil | 2.1 | -3.0 | -8.3 | -6.4 | 2.5 |
| Bulgaria | -0.2 | 1.8 | 2.9 | 2.7 | 3.4 |
| Canada | 1.8 | 5.1 | -0.9 | 0.1 | 5.2 |
| Chile | - | - | - | - | - |
| China | 9.7 | 8.3 | 6.1 | 6.0 | 6.6 |
| Colombia | -1.8 | 1.3 | 1.8 | 3.5 | -0.6 |
| Croatia | -1.7 | 1.2 | 2.5 | 5.0 | 1.9 |
| Cyprus | -13.4 | -0.1 | 3.4 | 8.7 | 9.7 |
| Czech Republic | -0.1 | 5.0 | 4.3 | 3.4 | 6.5 |
| Denmark | -0.3 | 0.7 | 0.1 | 4.2 | 2.0 |
| Dominican Republic | 9.8 | 14.8 | 8.5 | - | - |
| Ecuador | 6.2 | 3.7 | -0.4 | -2.5 | 2.1 |
| Egypt | 0.6 | -4.8 | 2.3 | -0.1 | 1.7 |
| Estonia | 4.4 | 4.3 | -2.2 | 2.6 | 8.0 |
| Eurozone | -0.8 | 1.1 | 2.6 | 1.6 | 3.0 |
| Finland | -3.0 | -1.9 | -1.1 | 3.9 | 4.2 |
| France | -0.8 | -1.0 | 1.5 | 0.3 | 2.4 |
| Germany | 0.1 | 1.5 | 1.0 | 1.8 | 3.3 |
| Ghana | 6.6 | 0.8 | -0.3 | -0.5 | 16.7 |
| Greece | -3.2 | -1.9 | 1.0 | 2.5 | 4.5 |
| Guatemala | 3.5 | 4.6 | 3.7 | 3.0 | 1.9 |
| Hungary | 1.1 | 7.7 | 7.4 | 0.9 | 4.8 |
| India | 3.3 | 4.1 | 3.4 | 4.5 | 4.3 |
| Iraq | 5.0 | 6.7 | 22.2 | 8.0 | - |
| Ireland | -2.2 | 20.9 | 32.9 | 1.8 | -2.2 |
| Israel | 0.5 | 1.2 | 2.2 | 1.7 | 3.7 |
| Italy | -3.1 | -0.6 | 1.0 | 2.1 | 3.7 |
| Japan | -0.8 | 2.1 | -1.2 | -0.2 | 4.4 |
| Jordan | 1.6 | 1.7 | 0.9 | -2.1 | -0.7 |
| Kazakhstan | 2.3 | 0.2 | -1.6 | -1.2 | 7.2 |
| Kenya | 5.4 | 5.6 | 6.1 | 6.0 | 4.9 |
| Korea | 0.7 | 0.3 | -0.3 | 2.3 | 1.9 |
| Kyrgyzstan | 68.3 | -23.2 | 2.4 | 2.0 | 9.5 |
| Latvia | -0.9 | -1.1 | 3.6 | 5.4 | 8.5 |
| Lithuania | 3.2 | 0.1 | 4.9 | 2.8 | 6.9 |
| Luxembourg | -7.1 | -2.7 | -8.2 | 1.5 | 9.8 |
| Macedonia | 3.2 | 4.8 | 4.9 | 3.4 | 0.2 |
| Malaysia | 3.4 | 5.2 | 2.5 | 4.1 | 4.3 |
| Malta | -4.7 | -5.7 | 6.0 | -4.4 | 3.9 |
| Mexico | -0.2 | 2.6 | 1.2 | 0.4 | -0.6 |
| Morocco | 0.9 | 1.3 | 1.6 | 2.1 | 2.6 |
| Netherlands | 0.6 | -2.9 | -3.3 | 2.3 | 2.0 |
| Nigeria | -0.1 | 6.0 | -3.4 | -9.4 | -3.6 |
| Norway | -5.0 | 3.6 | 0.6 | -1.5 | 2.1 |
| Oman | 3.1 | 0.2 | 5.4 | 3.2 | - |
| Panama | 16.5 | 10.2 | 10.2 | 6.0 | 6.3 |
| Poland | 2.4 | 3.5 | 4.8 | 2.9 | 6.5 |
| Portugal | 0.5 | 1.4 | 2.1 | 2.3 | 3.9 |
| Qatar | 2.2 | 1.9 | 1.7 | 0.8 | 1.5 |
| Romania | 7.9 | 6.2 | 2.8 | 1.8 | 7.8 |
| Russia | 0.4 | 1.6 | -0.8 | 1.3 | 1.0 |
| Saudi Arabia | 0.2 | 3.1 | 5.0 | 2.4 | -2.3 |
| Serbia | 5.6 | -6.1 | 8.4 | 4.8 | 3.5 |
| Slovakia | 2.2 | 3.0 | 6.0 | 3.8 | 3.1 |
| Slovenia | -1.0 | 1.8 | 5.1 | 7.8 | 8.5 |
| South Africa | 1.3 | 0.1 | 0.0 | 0.7 | -0.5 |
| Spain | -1.6 | 1.2 | 3.2 | 1.9 | 3.1 |
| Sweden | -4.1 | -2.2 | 2.9 | 2.2 | 4.6 |
| Switzerland | 0.8 | 1.4 | -2.5 | 0.0 | 5.0 |
| Taiwan | 3.2 | 6.4 | -1.3 | 2.0 | 5.0 |
| Tunisia | 1.1 | -1.1 | -2.6 | -0.5 | -1.0 |
| Turkey | 7.2 | 5.7 | 5.8 | 3.4 | 8.9 |
| USA | 2.0 | 3.1 | -1.0 | -1.9 | 1.6 |
| Ukraine | -4.3 | -10.1 | -13.0 | 2.8 | 0.4 |
| United Arab Emirates | 3.6 | 0.9 | 6.8 | 4.3 | - |
| United Kingdom | -0.7 | 1.5 | 1.2 | 1.3 | 1.9 |
| Uruguay | 4.1 | 1.1 | 3.1 | 0.3 | -11.1 |
| Vietnam | 5.9 | 7.6 | 10.0 | 7.3 | 9.4 |
| Zambia | 3.9 | 1.9 | 0.2 | 2.5 | - |
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Industry Economic News
China: Industrial production broadly stable in August
September 14, 2018
Industrial production expanded 6.1% annually in August, slightly above July’s 6.0% and matching market expectations. August’s print reflected an acceleration in electricity generation and mining output, while manufacturing production growth edged down. On a month-on-month basis, industrial production increased 0.52% in seasonally-adjusted terms in August, above July’s 0.47% expansion.
Hungary: Second estimate confirms industrial output growth picked up pace in July
September 12, 2018
According to revised data released by the Hungarian Central Statistical Office (KSH) on 12 September, industrial output rose a working-day adjusted 3.9% year-on-year in July.
Italy: Industrial production contracts notably in July
September 12, 2018
Industrial output contracted 1.8% in July on a month-on-month, seasonally-adjusted basis, following June’s revised 0.3% increase (previously reported: +0.5% month-on-month).
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