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Industrial output down by 1.6 percent in Europe

Industrial output of both the Eurozone(EZ15) and the EU27 fell by 1.6% in November 2008 as compared to October. In comparison with November 2007 industrial output fell by 7.7% in both regions in November last year. A positive exception is Ireland where industrial output increased by 10.2% and 2.6% as compared to October 2008 and November 2007 respectively. In Spain industrial output dropped by -15.1% as compared to November 2007 and in Slovenia by -12.8% as compared to October this year.

Monthly comparison

Output of consumer goods increased by 0.1% in the Eurozone and fell by 0.2% in the EU27 in November 2008. In the energy sector the respective changes were -1.5% and -1.0%. Output of investment goods decreased by 1.8% and 2.3% respectively. With regard to consumer durables the changes were -2.4% and -1.7% respectively and with regard to intermediate inputs -2.8% in both regions.

Eighteen of the EU member states which made data available registered falling industrial output in November 2008. The only exceptions were Ireland (+10.2%) and Greece (+0.6%). The biggest drops in industrial output took place in Slovenia (-12.8%), Estonia (-7.7%), Slovakia (-7.1%) and Portugal (-5.8%).

Annual comparison

In comparison with November 2007 output of consumer goods fell by 2.7% and 3.5% in the Eurozone and the EU27 respectively in November 2008. In the energy sector the respective changes were -3.6% and -3.8%. Output of investment goods decreased by 8.0% and 8.2% respectively. With regard to consumer durables the changes were -10.3% and -8.5% respectively and with regard to intermediate inputs -11.2% in both regions.

Nineteen of the member states making data available registered falling industrial output in November 2008. The only exception was Ireland (+2.6%). The biggest drops suffered Estonia (-17.6%), Spain (-15.1%), Latvia (-13.9%) and Luxembourg (-13.8%). GERMAN