Update | 'Malta worst in Europe in industrial production' - Opposition

The Nationalist Party has criticised the government for allowing industrial production to decrease by 7% during August 2014, the largest registered decrease out of all the EU member states.

“This decrease in industrial production was worse than Greece (6%), a country that has recently passed through large economic difficulties that left enormous social problems on its people,” the PN’s economy spokesperson Mario de Marco, finance spokesperson Tonio Fenech, and competitiveness spokesperson Kristy Debono said in a joint statement.

“The manufacturing sector is one that is continuously faced with new challenges,” the PN said. “However, the government should be hands on when facing these challenges and identify the initiatives it should take to adapt the sector to today’s realities. They should do this before it is too late and Maltese workers start losing their jobs.”

“Industrial production is a primary pillar of Malta’s economy and the source of thousands of jobs,” the PN said. “We hope that the government plans out concrete initiatives and measures to drive this industry forward before the next Budget, turns the challenges the manufacturing industry is facing into opportunities, and puts the minds of several workers at ease.”

Eurostat data

Malta, Greece, Lithuania and Croatia have registered the largest decreases in industrial production in just a month, according to figures published by Eurostat.

At a decrease of 7%, Malta tops the list followed closely by Greece at 6%.

On the whole, the euro area suffered a 1.8% in industrial production. Ireland, Luxembourg, Solvenia and Portugal registered the highest increases.

In the EU28, August 2014 compared with July 2014, industrial production fell by 1.4%.

In August 2014 compared with August 2013, industrial production decreased by 1.9% in the euro area and by 0.8% in the EU28.

The decrease of 1.8% in industrial production in the euro area in August 2014, compared with July 2014, is due to production of capital goods falling by 4.8%, intermediate goods by 0.7% and non-durable consumer goods by 0.2%, while durable consumer goods increased by 0.2% and energy by 1.2%.

In the EU28, the decrease of 1.4% is due to production of capital goods falling by 4.3% and intermediate goods by 0.4%, while non-durable consumer goods increased by 0.2%, durable consumer goods by 0.6% and energy by 1.2%.

The largest decreases in industrial production were registered in Hungary (-5.8%), Germany (-4.3%) and Croatia (-4.1%), and the highest increases in Denmark (+6.9%), Portugal (+3.1%) and the Netherlands (+1.3%).

The decrease of 1.9% in industrial production in the euro area in August 2014, compared with August 2013, is due to production of capital goods falling by 3.7%, energy by 3.5%, durable consumer goods by 2.9% and intermediate goods by 1.1%, while non-durable consumer goods increased by 1.4%.

In the EU28, the decrease of 0.8% is due to production of energy falling by 3.3% and capital goods by 2.3%, while intermediate goods increased by 0.4%, durable consumer goods by 1.4% and non-durable consumer goods by 1.9%.