Ireland records highest increase in industrial production in the EU

Ireland had the largest increase in industrial production in the EU last month, according to Eurostat.

The European Union statistics office said industrial production in Ireland grew by 9 per cent between September and October.

In the same period, high increases were also seen in Lithuania (+5 per cent), Greece (+2.5 per cent) and Slovenia (+2.4 per cent), while the largest decreases in Hungary (-2.7 per cent), France and the Netherlands (both-0.9 per cent).

Year on year comparisons between October 2014 and October 2013 also reveal that Ireland (+38.8 per cent) had the largest increase in industrial production in the EU.

The next highest increases in industrial production during this period were registered in Romania and Slovenia (both +3.9 per cent), and the largest decreases in Denmark and Italy (both -3 per cent) and the Netherlands (-1.4 per cent).

Overall, Euro-area industrial production barely grew in October, indicating a weak start to the fourth quarter as the European Central Bank considers new ways to revive the economy. Industrial output in the 18-nation region rose 0.1 per cent.

The data from Luxembourg-based Eurostat also showed production was up 0.7 per cent from a year earlier.