Eurozone Industry Continues to Recover

0 26,997

Manufacturing production in the euro area increased again in April compared to the previous month.

 

In particular, durable consumer goods, such as bicycles and household appliances, were made more. On the other hand, the production of non-durable consumer goods, such as foodstuffs, decreased compared to March.

Manufacturing production in April was 0.8 percent higher than in March. That is a larger increase than the average economists had expected. Although the industry is recovering well from the corona crisis, it is also struggling with the chip shortage, which no longer only affects the car industry.

In addition, the delivery of many goods, including raw materials for industry, is hampered by problems in container transport.

Compared to April last year, when the industry was partly shut down due to corona measures, the industry produced more than 39 percent more. As a whole, industry in the EU saw production grow 0.5 percent in April compared to March and 38.7 percent year-on-year.

Leave A Reply