Industrial Production Increased in the Euro Area

In the Euro Area, industrial production increased by 1.1% in February compared to the previous month. The European Statistical Office (Eurostat) released the seasonally adjusted industrial production data for the European Union (EU) and the Euro Area in February. Accordingly, industrial production in the Euro Area rose by 1.1% in February compared to January and by 1.2% compared to the same period last year. Industrial production in the EU increased by 1% on a monthly basis and by 0.6% on an annual basis in February. Among EU countries, Ireland saw the highest increase in industrial production on a monthly basis in February with 10.8%, followed by Belgium with 7.4%, and Luxembourg with 6.3%. The biggest decreases were recorded in Croatia with 3.9%, Greece with 3.6%, and Romania with 2.1%. The highest annual increase in industrial production was in Ireland with 38.8%, followed by Lithuania with 9.1% and Luxembourg with 6.6%. The largest decreases were seen in Hungary with 8%, Bulgaria with 4.7%, and Germany with 3.7%.