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EU Industrial Production Improved in July

September 14, 2020
There is a sustained trend of monthly gains, even if levels remain below last year.

EU industrial production improved in July according to the latest numbers published by Eurostat. Industrial production increased between June and July by 4.1%. However, compared to July 2019, production was down 7.3%.

The European industrial sector has been showing negative yearly comparison readings for more than a year.

Brexit and especially trade wars had been inflicting damage before the pandemic caused a slump in many market segments.

EU industrial production yearly comparisons

However, since the lowest point in April, the trend remains on an upward path.

And there is a good chance that August numbers will follow the same trajectory.

Demand across most polymer markets certainly reflects this continuous recovery.

But part of the recovery is also to do with buyers refilling stocks that were driven down amid much uncertainty in the summer.

Therefore, the current recovery in the polymer markets may be weaker than reflected by current demand.