Europe Heads for an In­dus­trial Slow­down

In­dus­trial pro­duc­tion dropped 0.8% in Europe while US cos are ac­cu­mu­lat­ing huge debts. In China, signs of an econ­omy sta­bil­is­ing was ev­i­dent as ex­ports grew

The Economic Times - - Commodities Plus -

drop­ping in Fe­bru­ary. Ac­cord­ing to the lat­est data re­leased by Euro­stat, the Euro­pean sta­tis­ti­cal au­thor­ity, in­dus­trial pro­duc­tion across the sin­gle cur­rency area dropped by 0.8% in Fe­bru­ary, down from a 1.9% in­crease in Jan­uary, and a quicker fall than the 0.7% drop ex­pected by econ­o­mists. On a year-toyear ba­sis, pro­duc­tion in­creased by 0.8% from Fe­bru­ary 2015.

In­di­vid­u­ally, coun­tries in Europe where pro­duc­tion is strug­gling the most are Ire­land, Greece, and Croa­tia. Pro­duc­tion in those coun­tries dropped 10.5%, 4.4%, and 1.6% re­spec­tively. Not all coun­tries strug­gled this month. Economies like Lithua­nia, Slovakia, and Malta saw the big­gest in­creases in pro­duc­tion.

On a sec­tor-to-sec­tor ba­sis so-called non-durable con­sumer goods — stuff like cos­met­ics and clean­ing prod­ucts, food, fuel, beer, cig­a­rettes, and med­i­ca­tion — were the worst per­form­ing, drop­ping1.8%. Pro­duc­tion in the energy sec­tor fell 1.2%.

Euro­stat’s fig­ures fol­low on from a dis­ap­point­ing set of UK man­u­fac­tur­ing pro­duc­tion data. The ONS’ fig­ures came in far be­low ex­pec­ta­tions in Fe­bru­ary, and sig­nalled wor­ry­ing times for man­u­fac­tur­ing in the coun­try. Man­u­fac­tur­ing pro­duc­tion fell by 1.1%. — Busi­ness In­sider

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