European GDP still maintains a marginal growth
Eurozone industry once again produced more in June than in the previous month, according to the European statistical office Eurostat. Also compared to June 2021, the industry produced more products. In May, production growth also increased due to overdue work.
Production increased by 0.7 percent on a monthly basis in June. Compared to the same month a year ago, production increased by 2.4 percent. The increase was driven by strong growth in the production of capital goods such as trucks and industrial machinery. More was also produced in the energy sector.
In the category of intermediate products, which still have to be further processed into finished products, production decreased slightly. Less was also produced in the sustainable consumer goods sector, such as passenger cars, furniture and white goods. The production of non-durable consumer goods, such as food and other consumables, declined the most by more than 3 percent.
Irish industry once again saw the largest increase in production on a monthly basis, followed by Malta and Greece. The largest decline was measured in Romania, followed by Belgium, Italy and Latvia. In Germany, the largest economy in the euro area and an important trading partner of the Netherlands, production increased by 0.6 percent. Production also increased in other major economies such as France and Spain. In the Netherlands, on the other hand, there was a decline.