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Europe recorded a record decline in production

Photo: Businessinsider

Due to the coronavirus pandemic in industry in Europe, a record decline has been recorded. In April, compared with the previous month, industrial production in the eurozone decreased by 17.1%, and in the European Union - by 17.3%, excluding seasonal fluctuations, according to the European Statistical Office Eurostat on Friday, June 12. Compared to April 2019, the decline was 28% in the eurozone and 27.2% throughout the EU.

The largest decline was recorded in Hungary (minus 30.5% compared to March) and Luxembourg (minus 43.9% compared to April 2019). The smallest losses were suffered by countries such as Finland (minus 2.2% compared with March), Malta and Ireland (minus 3.1% and plus 5.5% compared to April 2019). In Germany, industry declined by 21% compared with March and by 30.2% compared to April last year.

The European Union consists of 27 countries, 19 of which have a common euro currency. Due to quarantine measures taken to prevent the spread of coronavirus, in Europe, as in many other countries of the world, the work of factories and plants was suspended.