Press Release: Industry down 1%: Confidence needed to reignite EU production

The economic outlook for EU industry has deteriorated. According to the January 2012 report published by the European Commission, in the last three months to November 2011, manufacturing production was some 1% higher than a year ago, but also 1% below the level registered in the preceding three months.

Manufacturing output is still 13% higher than its trough in early 2009 and some 9% below its former peak in early 2008. Output has surpassed its earlier peak in pharmaceuticals, other transport equipment, beverages and food. However, most of the sectors are again declining with the biggest contractions in production occurring in textiles, furniture, leather, printing and computer industries. Recent data and forecasts for services, including tourism, remain positive, but their performance will depend on the general economic situation.