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Friday, 14 December 2012

More on the Poor Industrial Production numbers in the Euro Area

Industrial production in the euro area is most certainly heading in the wrong direction according to figures from Eurostat. As previously reported, industrial production for the euro area fell 3.9% in October compared to the same month in 2011. On a year-on-year (YoY) percentage change basis, the figures for October are as follows:
  • Germany: 3.8% decrease, 4th month in a row with YoY decreases
  • Greece: 2.3% increase
  • Spain: 3.5% decrease, 19th month in a row with YoY decreases
  • France: 3.6% decrease, 6th month in a row with YoY decreases
  • Italy: 5.9% decrease, 14th month in a row with YoY decreases

For separate report on Ireland see here. Certainly when it comes to industrial production, it can hardly be claimed that the euro area and its politics and central planning initiatives are a success. But that should come as little surprise.

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