Ireland records highest increase in industrial production in the EU

Euro-area industrial production barely grew in October, indicating a weak start to Q4

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

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.

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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.