Eurozone's Industrial Downturn in December

According to the latest report released by Eurostat on Thursday, the seasonally adjusted industrial production in the Eurozone experienced a significant downturn, declining by 1.1% in December compared to the previous month. This trend was mirrored across the European Union, which saw a 0.8% drop in industrial production over the same period.

Year-over-Year Decline

When looking at the year-over-year figures, the situation appears even more grim. Industrial output fell by 2% in the euro area and 1.7% in the EU, underscoring a worrying trend of economic slowdown across the continent.

Detailed Sector Analysis

Breaking down the figures, the production of intermediate goods, durable consumer goods, and capital goods in the Eurozone decreased by 1.9%, 0.7%, and 2.6% respectively. On a brighter note, the production of energy and non-durable consumer goods saw an increase of 0.5% and 5.1% respectively. A similar pattern was observed across the entire EU, with intermediate goods, durable consumer goods, and capital goods production falling by 1.8%, 1%, and 2%, while non-durable consumer goods and energy production rose by 5.2% and 0.6% respectively.

Member States' Performance

Among the EU Member States, Bulgaria, Austria, and Italy recorded the highest monthly falls in industrial production, with declines of 6.8%, 3.3%, and 3.1% respectively, highlighting the uneven impact of the economic slowdown across the region.