Post by account_disabled on Mar 9, 2024 8:41:54 GMT 2
Industrial production in the euro zone rose 0.9% in January, somewhat better than expected. Germany's production increased by 3.4%, while Ireland's saw an increase of 9.3%. The other major manufacturing countries (Italy, France, Spain and the Netherlands) recorded losses.
In general, the most energy-intensive industries saw an increase in production, but this cannot be considered a rebound within the downward trend of recent quarters.
The growth of around 2% for the chemicals, paper and base metals sectors does not offset the losses seen in recent months due to the energy crisis.
The best-performing Ecuador Mobile Number List industrial sectors were those that employ semiconductors, such as electrical equipment producers, whose growth was driven by an increase in the market availability of these products compared to previous months.
On the other hand, the weakest industry in January was pharmaceuticals, while growth in production in the automotive sector was also negative. These sectors had led production growth in the fourth quarter of last year.
The current industry environment is peculiar, with backlogs being delivered now that supply chain-related issues have eased and energy-intensive production is improving due to lower energy prices. At the same time, the reality is that new orders continue to suffer, making the increase in production short-lived or at least limited. Therefore, it is most likely that consumer demand, and therefore industrial production, will continue to decline over the coming months.
In the case of the US, with more updated data, production in February has fallen by 0.3% compared to January.