On an annual basis, this indicator fell to 2.4% m/m.

In September this year, seasonally adjusted industrial production in the EU fell by 2% compared to August. In the euro area, the data also fell by 2% m/m. This is evidenced by preliminary data from Eurostat.

Compared to September 2023, industrial production in the euro area decreased by 2.8%, in the European Union – by 2.4%.

Among EU member states, the largest monthly declines in September were seen in Ireland (-10.7%), Denmark (-5%) and the Netherlands (-2.9%). The highest growth was recorded in Croatia (+5.8%), Portugal (+2.7%) and Slovenia (+1.6%).

On an annual basis, the biggest declines in industrial production in September this year were in Ireland (-7.3%), Luxembourg (-6.3%) and Hungary (-5.3%). The largest increases were seen in Denmark (+7.8%), Belgium (+6.0%) and Lithuania (+3.5%).

Energy production in the euro area rose 1.5% m/m and 1.9% y/y in September. In the EU, energy production fell by 1.6% m/m and grew by 1.4% y/y in the same period.

In August, industrial production in the euro area fell 0.1% y/y and rose 1.5% m/m, compared to 0.1% y/y and 1.2% m/m in the EU, according to revised data. /m increased.

In October, the European Central Bank cut key interest rates by 25 basis points for the third time in a year. The new interest rates are fixed at 3.4% for main refinancing operations, 3.65% for margin loans, and 3.25% for deposits.