Home Latest News & Insights EU DURABLE GOODS: STILL NEGATIVE BUT IMPROVING

EU DURABLE GOODS: STILL NEGATIVE BUT IMPROVING

December 13, 2023
gdp growth

EU durable goods: still negative but improving, according to Eurostat data. In October 2023, the European Union saw a 7% decrease in durable goods production, a milder drop than September’s steepest 8.9% decline.

The year has been marked by deepening challenges. It began with a 1.5% decrease in November 2022 and escalated to more significant reductions through the subsequent months.

data bar chart

February 2023 experienced a notable downturn of 5.1%. This trend continued into the spring and summer, indicating ongoing difficulties within the sector.

The less negative data in October faintly signals a possible trend shift, but it is too early to declare stability.

This observation, based on just one month’s data, requires a longer trend to be confirmed.

Determining whether this indicates a turnaround’s start or just a temporary fluctuation in ongoing challenges remains uncertain.