Eurostat reported that total industrial production (IP) rose by +0.2% in the EU and +0.3% in the Eurozone compared with June, partly offsetting the larger declines that month of -0.4% in the EU and -0.6% in the Eurozone. This continues the pattern of alternating monthly falls and gains observed since April.
Year-on-year comparisons show stronger growth: in July 2025, total IP increased by +1.8% in both the EU and the Eurozone, up from +1.0% in the EU and +0.7% in the Eurozone in June.
To reduce monthly volatility, rolling three-month trends provide a clearer picture. For May to July 2025 versus February to April, total IP was broadly flat, with small declines of just -0.1% in the EU and -0.3% in the Eurozone.
As noted previously, trends are heavily shaped by Ireland, where both IP and GDP are influenced by the presence of multinational headquarters. Ireland has shown particularly large monthly swings this year: a sharp +11.6% increase in May was followed by -11.9% in June, though July saw only a modest +0.6% gain.
Manufacturing accounts for the largest share of IP in Eurostat’s data, but the series also includes utilities and energy, making direct comparison with UK figures more difficult. Capital goods, however, are directly comparable. Between June and July, output of capital goods rose +0.9% in the EU and +1.3% in the Eurozone. Looking back 12 months to July 2024, capital goods output increased by +2.4% in the EU and +2.1% in the Eurozone, the second-fastest subsector growth after non-durable consumer goods.
On the same 12-month basis, 17 EU member states recorded higher total IP, while 10 saw declines. The strongest growth was in Latvia (+9.8%), Ireland (+8.1%) and Sweden (+4.1%), while the steepest falls were in Bulgaria (-8.3%), Luxembourg (-4.7%) and Slovakia (-4.6%).
You can get the full details from the Eurostat News Release which can be downloaded from their website at https://ec.europa.eu/eurostat/news/euro-indicators (16 September) or requested from MTA.