“More than two-thirds of industrial sectors are reducing production volumes. In January, manufacturing production in the EU decreased by 6.5% y/y, according to the latest Eurostat data. This is the worst result since June 2020. If we average these data with a good December, the picture is slightly milder, the average three-month dynamics is -3.7%, but this is still a deep minus,” says “Puls Biznesu” on Thursday, adding that the indicators are falling, among others. due to the bad situation in the construction sector and the poor situation in the automotive industry and machinery production.
In January, the production of aircraft and their parts and components increased by over 13%.
“There are also industries that are growing, and aviation is at the forefront. In January, the production of aircraft and their parts and components increased by over 13% y/y. The double-digit growth has been going on since the beginning of last year,” the newspaper notes.
The growth in this industry – according to “Puls Biznesu” – is related to the increased demand for airplanes, “which in turn is the result of the increasing demand for travel.
“Tourism companies in Europe report growing revenues, countries with a large share of tourism in GDP (Spain, Italy, Greece, and especially Croatia) are developing faster than average. Consumer demand is placed more in services than in products. Consumers do not spend on housing, but he is happy to travel around the world,” says “PB”, adding that the better situation of the most important European aircraft manufacturer – Airbus – than the struggling American Boeing is also important.
