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EU CAR MARKET SEES INCREASE IN APRIL 2024
automotive

EU car market sees increase. In April 2024, new car registrations in the European Union increased by 13.7%, reaching a total of 913,995 units, according to the European Automobile Manufacturers Association (ACEA). Spain led this growth with a 23.1% increase.

Germany observed a significant 19.8% surge in new car registrations, while France recorded a 10.9% increase. Italy experienced a 7.7% growth in new car sales.

Battery electric vehicles comprised 11.9% of the market share in April. This rise resulted partly from two additional sales days compared to the same month last year.

In the first four months of 2024, new car registrations in the European Union grew by 6.6%, totaling nearly 3.7 million units, ACEA reported. Germany and Spain each recorded a 7.8% increase in registrations.

France noted a 7% rise in car registrations during this period, while Italy saw a 6.1% growth, contributing to the overall positive trend in the EU car market.

EU CONSTRUCTION DOWN 0.1% IN MARCH 2024
plant building

EU Construction down. In March 2024, EU construction production fell by 0.1%, while the euro area saw a slight 0.1% increase, according to Eurostat.

In February 2024, construction production grew by 0.4% in the euro area and 0.5% in the EU.

In the euro area, construction of buildings dropped by 1.5%, civil engineering rose by 0.6%, and specialized activities increased by 0.6%.

In the EU, building construction fell by 2.6%, civil engineering by 0.8%, but specialized activities rose by 0.5%.

Notable monthly declines occurred in Czechia, Slovakia, and Slovenia, while Romania, France, Belgium, and Germany showed increases.

Compared to March 2023, EU production decreased by 0.7%, whereas the euro area saw a 0.1% rise.

EU CONSTRUCTION MIXED, POLYMER BLEAK
plant building

EU construction mixed but polymer bleak. Eurostat‘s recent findings reveal diverse trends in Europe’s construction sector for January 2024.

The euro area experienced a slight increase in construction production by 0.5% from December 2023, while the EU faced a 1.0% decrease.

This fluctuation follows December 2023’s growth, where construction production in the euro area and the EU increased by 0.5% and 1.3%, respectively.

On a yearly basis, construction output in the euro area rose by 0.8%, and the EU observed a minor 0.1% uptick compared to January 2023. These figures indicate a cautiously optimistic trend in certain European areas, amidst wider economic challenges.

From the polymer industry’s standpoint, the outlook within this construction sector is notably grimmer.

Industry participants point out that demand for specific products, such as polypropylene (PP), polymethyle methacrylate (PMMA), and polycarbonate (PC), is among the weakest segments.

This situation underlines the difficulties faced by the polymer sector, reflecting broader issues within the construction industry across Europe.

EUROPEAN INDUSTRIAL PRODUCTION RISES
industrial production

European industrial production rises. Euro area and EU industrial production increased in February 2023 compared to January 2023, according to estimates from Eurostat.

The seasonally adjusted industrial production rose by 1.5% in the euro area and 1.4% in the EU in February 2023. In January 2023, the production grew by 1.0% in the euro area and 0.4% in the EU.

Comparing February 2023 to February 2022, industrial production increased by 2.0% in the euro area and by 2.1% in the EU. These estimates show an upward trend in industrial production in both the euro area and EU.