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
Turkey: Industrial production falls sharply in October
December 17, 2018
Industrial production declined 5.7% in October in calendar-adjusted year-on-year terms, a deterioration from September’s revised 2.4% decrease (previously reported: -2.7% year-on-year).
Belarus: Industrial output growth edges up in November
December 17, 2018
Industrial production expanded 3.1% year-on-year in November, up from 2.8% in October.
Slovenia: Industrial production accelerates in October
December 13, 2018
The industrial sector accelerated markedly, growing 3.9% over the same month of the previous year in October, following a 0.5% year-on-year expansion in September.
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