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Croatia's industrial production drops most in entire EU

Author: rmli
LUXEMBOURG/ZAGREB, March 12 (Hina) - Croatia's industrial production in January 2015 dropped sharply, the most in the EU28, while it stagnated in the EU, the statistical office Eurostat said on Thursday.

Seasonally-adjusted industrial production in Croatia declined 4% from December 2014, which is the biggest drop since August 2014. In December 2014 it slid by 0.3%, Eurostat data shows.

Noticeable monthly drops in industrial output were also registered in Latvia (-3.1%), Finland (-2.5%) and Lithuania (-2.3%).

The highest increases were registered in Malta (+6.1%), Hungary (+4.3%) and Bulgaria (+2.0%).

Industrial production remained stable in the EU28 as production of energy rose by 0.6% and intermediate goods and non-durable consumer goods were both stable, while capital goods fell by 0.3% and durable consumer goods by 1.7%.

Industrial production in the euro area fell by 0.1% in January 2015 compared with December 2014, after a revised 0.3% increase the previous month. The decrease was due to production of durable consumer goods falling by 2.2%, which neutralised a 0.9% increase in energy production.

Compared to January 2014, industrial production in January this year dropped the most again in Croatia, by 4.9%. Croatia was followed by Finland, with a decrease of 4.2%, and Latvia, with an annual decrease in industrial production of 3.5%.

The highest increases in industrial production were registered in Ireland (+8.8%), Malta (+8.1%) and Hungary (+7.8%).

In the EU28, the increase of 1.5% was due to production of durable consumer goods rising by 2.9%, non-durable consumer goods by 2.3%, capital goods by 1.8%, energy by 1.3% and intermediate goods by 1.2%.

Eurostat revised its estimate for December 2014, and now industrial production is shown to have increased 0.9% on the year.

In the euro area, industrial production in January grew 1.2% compared to the same month of 2014, with increases being registered in all product categories, including energy.

According to revised Eurostat data, industrial production in the euro area in December was up 0.6%.

(Hina) rml

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