European industrial production returns to pre-pandemic levels

European industrial production has reached its highest level since the Covid-19 pandemic hit the continent, according to the latest data published by Eurostat.

The monthly index for industrial production in the EU – with 2015 as the base year – jumped back to 104.6 in January. This is almost in line with the level of 104.8 registered in January and February 2020, before the start of the pandemic, Kallanish notes.

Overall, the recovery of the sector in January was by 0.7% month-on-month, confirming the positive trend reported in the entire supply chain.

Compared with January 2020, the biggest recovery in activity was registered by Ireland (+27% y-o-y), followed by key countries such as Poland (+5% y-o-y) and Belgium (+3% y-o-y). German industrial production was down some 3%, while the worst performing country was Portugal, with a 6% drop.

Emanuele Norsa Italy