European industrial production began to decline – Vedomosti
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The volume of industrial production in the eurozone in December 2022 decreased by 1.7% compared to December 2021, follows from Eurostat data published on Wednesday. This was the first contraction since July, when industrial production fell by 2.5%, after which it grew throughout the following months, despite the rise in electricity prices and an increase in the cost of raw materials: by 2.8% in August, 5.1% in September, 3.3% in October and 2.7% in November.
Most industrial production fell in Slovakia (-13.1%) and Estonia (-11.5%). They are followed by Luxembourg (-8.4%) and Lithuania (-8.2%), both of which were positive in November. The decline in industrial production was especially sharp for Ireland: after growing by 45.5% in November, it fell immediately by 7.8% in December. It was also significant in Slovenia (-7.3%) and Romania (-7.1%).
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