Industrial production in Europe reaches its lowest level in 25 years

Source : 112 Ukraine

The most affected countries are Hungary and Luxembourg
18:40, 13 June 2020
Industrial production in Ukraine shows a significant decrease, compared to the previous year
In April 2020, industrial production in the EU countries showed the record-breaking decrease and reached the lowest levels in the last 25 years. The reason is quarantine measures. This is reported by Deutsche Welle with reference to Eurostat data.

"In April, compared with the previous month, industrial production in the eurozone decreased by 17.1%, and in the European Union - by 17.3%, excluding seasonal fluctuations," the report said.

Compared to April 2019, the decline was 28% in the Eurozone and 27.2% throughout the EU. We are talking about the lowest rates since the mid-1990s.
Related: Strict lockdown not to be introduced in Ukraine, despite increase in coronavirus infection

"For example, due to the financial crisis at the end of 2008 and the beginning of 2009, industrial production in Europe fell by 3-4% compared to the previous month," the report said.

The largest decline was recorded in Hungary (30.5% compared with March) and Luxembourg (43.9% compared with April 2019). The smallest losses are in Finland (-2.2%) and Malta (-3.1%).

Nevertheless, there is a positive trend. For example, in Ireland, industrial production grew by 5.5% compared to April 2019.
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