Industrial production sold in the European Union fell by 0.8% in July. yes – Eurostat reported Wednesday. This is calendar-correct, i.e. it takes into account the difference in the number of working days and is at constant prices, i.e. corrected for producer inflation. It was even worse in the euro area, where production decreased by 2.4%.
Astronomical energy prices, as you can see, are putting a brake on production capacity in many factories. Putin’s gas strike against European industry seems to be working. But not necessarily in our part of the continent and not yet in Poland.
Our energy prices are among the lowest in the European Union and this translates into more favorable conditions for production. The sale of the sector in July was stopped in Poland up to 10.3 per cent. Every yearand compared to June by 0.9 per cent. Only Bulgaria (+ 17.6% y / y) and Denmark (+ 12%) can boast better results in the EU in annual terms.
How do we distinguish ourselves from other EU countries? Among others coal production sold. This increased to 49.7 percent. yyyy, especially thanks lignite mining in the Turów mine, increase the efficiency of mining in the mining industrybut also the sale of coal from heaps which in recent months has decreased rapidly. However, the following sectors were also very dynamic: basic pharmaceuticals (+ 23% y / y), automotive (+ 24.2% y / y) and machinery (+ 22.4%).
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Bulgaria can also boast an increase in the production of coal sold, up to 73.8 percent. Every year. The production of electricity (+ 51.8% y / y) and consumer electronics (+ 50.6%) also increased. In Denmark there were strong increases, similar to Poland, in the basic pharmaceutical products industry (+ 41.2% y / y).
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Interestingly, the industry itself held a record congress in Lithuania in July. The decrease was up to 72.4 percent. yyyyy No industry in any EU country was shrinking so fast.
Break in Ireland
The real breakup came to Ireland. Production decreased by up to 23.7%. yyyyy In the previous month there was an excess of 19.4 percent. rdr, so this could be taken as a fix. But we can clearly see the labored breathing of the European tiger, in which the American giants of new technologies have placed their production. The downturns are mainly in the “modern” sectors. (chemical, pharmaceutical, IT, electronic, medical), where, according to the Central Statistical Office, production decreased by up to 29.5 percent in July. yyyyy Traditional sectors grew by 18.3%. yyyyy
In Montenegro, the drop in production was as much as 9%. yyyyy The collapse affected the following industries: mining equipment in Germany (-35.7% y / y), rubber and plastic products in Denmark (-33%), tobacco products in the Netherlands (-33.9% y / y) / a) and refining and coke products in Austria (-36.1%). In North Macedonia, the chemical, metal and metal manufacturing sectors fell by more than 40%.
Edited by: Jacek Frączyk, Business Insider Polska journalist
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