Eurostat reported that total industrial production (IP) in the EU grew by +0.2% in November (compared to October), with the Euro-zone seeing an increase of +0.7%. This is helping the Euro-zone close the gap to the wider region that started back in 2021 and widened earlier in 2025. Compared to November 2024, EU output has grown by +2.2%, with the Euro-zone up by +2.5%.
The rolling 3-month trends for the two blocks, comparing output in September to November with that for the previous period (June to August) show growth of +0.7% in the EU and +0.2% in the Euro-zone.
In the month-on-month comparison, output of the capital goods industries (the most important group for most members) increased by +2.5% in the EU and by +2.8% in the Euro-zone; in both cases this was, by a significant margin, the strongest of the sub-sectors of industrial production. Looking back to November 2024, capital goods output grew by +4.0% in the EU and +3.6% in the Euro-zone – again, this was the strongest of the industry groups but there was also significant growth in non-durable consumer goods output on this comparison.
Using the 12-month trend, 18 of the 27 EU member states recorded higher total IP, with the other 9 reporting a reduction. The strongest growth was in Ireland (+10.6%), Cyprus (+10.5%) and Croatia (+8.8%), while the steepest falls were in Bulgaria (-9.3%), Malta (-8.2%) and Hungary (-5.5%).
Since a month-on-month increase of +9.5% in August and a corresponding decline of -8.6% in September, the trends for Ireland, which is affected by the presence of multinational-company headquarters, have been more in line with general trends but some care is still needed in looking at their results, especially when looking back over 12 months.
Note: for consistency when comparing with 2024 figures, the Euro-zone trends are all based on the 20 countries in the block before the accession of Bulgaria in January 2025.
You can get the full details from the Eurostat News Release on Industrial Production which can be downloaded from their website at https://ec.europa.eu/eurostat/news/euro-indicators (15 January) or requested from MTA.