Eurozone industrial output surges, with capital goods leading
According to preliminary estimates by Eurostat, industrial production in March 2025 increased by 2.6% in the eurozone and by 1.9% in the European Union compared to February 2025. On an annual basis, there was an increase of 3.6% in the eurozone and 2.7% across the entire EU compared to March 2024.
In February 2025, industrial production increased by 1.1% in the eurozone and the European Union. The data indicates a significant revival of industrial activity in the first quarter of this year.
In the eurozone in March 2025, compared to February, the production of intermediate goods increased by 0.6%, while energy production fell by 0.5%. The most significant growth was recorded in capital goods, which rose by 3.2%. The output of durable consumer goods increased by 3.1%, and non-durable consumer goods by 2.3%.
Across the European Union, the production of intermediate goods increased by 0.2%, while energy production decreased by 1.7%. Capital goods saw an increase of 3.0%, durable consumer goods by 2.8%, and non-durable consumer goods by 1.3%.
Ireland (14.6%), Malta (4.4%), and Finland (3.5%) registered the highest monthly increases in industrial production. Luxembourg (-6.3%), Denmark and Greece (4.6% each), and Portugal (4.0%) experienced the largest declines.
Annual comparison by category and member countries
On an annual basis, in March 2025 compared to March 2024, the production of intermediate goods in the eurozone decreased by 0.2%. Energy increased 2.2%, capital goods 1.0%, and durable consumer goods 1.1%. Particularly impressive was the increase in the production of non-durable consumer goods, which amounted to a remarkable 15.7%.
Annual changes followed a similar pattern throughout the European Union. The production of intermediate goods decreased by 0.2%, while energy production increased by 0.8%. The production of capital goods increased by 1.0%, durable consumer goods by 1.3%, and non-durable consumer goods by 12.2%.
The highest annual increases in industrial production were noted in Ireland (50.2%), Malta (10.1%), and Lithuania (7.8%). The most significant declines occurred in Bulgaria (-8.3%), Romania (-7.8%), and Denmark (-5.7%). The significant variability in Irish data, which arises from the specifics of Ireland's economy, is worth noting.
According to Eurostat, the significant variability in Irish data is related to the nature of its economy. International corporations often locate their operational headquarters in Ireland, maintaining intellectual property rights and incomes in Irish subsidiaries, while production occurs in other countries. In business statistics, such subcontracted production is included in the national industrial production indicator, leading to greater variability in Irish data than in different countries.
