Croatia records the largest drop in industrial production in the EU

(Patria) - Croatia led the group of EU countries with the largest drop in industrial production in May, out of step with the recovery at the eurozone and EU level, data from the European Statistical Office (Eurostat) show.

In the eurozone, seasonally adjusted industrial production rose in May by 1.7 percent compared to April, when it fell by a revised 2.2 percent, Eurostat reported.

At the EU level, it increased by 1.5 percent after falling by a revised 1.6 percent in April.

The data thus showed a stabilisation of European industrial production in May. In April, it had fallen for the first time since the end of last year.

The highest increase, both at the eurozone and EU level, was in the production of non-durable consumer goods, by 8.5 and 7.1 percent, respectively.

In April, it had fallen by 5.7 percent in the eurozone and by 4.3 percent at the EU level.

Energy production also rose significantly, by 3.7 percent in the eurozone and 3.2 percent in the EU. The energy sector also saw a change in trend, following a decline in production in April of 2.8 and 1.4 percent, respectively.

The largest drop in May, however, was recorded in the production of durable consumer goods, by 1.9 percent in the eurozone and 1.8 percent in the EU.

By far the largest monthly increase in industrial production in May was recorded by Ireland, at 12.4 percent, Eurostat data show.

They were followed by Malta and Germany with more modest growth of 3.4 and 2.2 percent, respectively.

Croatia, however, recorded the largest monthly drop in industrial production in May, of 2.9 percent. In April, it had risen by 2.5 percent.

Almost the same percentage drop in production in May was recorded by Slovakia and Belgium, of 2.8 and 2.7 percent, respectively, Eurostat data show.