Industry - Country Industry Forecasts - Eurozone

Industry - Country Industry Forecasts - Eurozone

Whilst European gas prices have fallen from their peak and supply chain bottlenecks have eased, we expect industrial production to grow by only 0.8% in 2023 as tighter monetary policy and high inflation subdue consumer demand and reduce the willingness of companies to purchase capital equipment. Fortunately, we expect industrial production growth to increase by 1.6% in 2024 driven by aerospace and chemicals ex pharmaceuticals.