20. Industrial Production and economic crisis in the European Union, year 2012

    Note: Blog of the Euro-American Association of Economic Development Studies

Graph of IPI in EU15 2012: This graph shows the variation of IPI (Industrial Production Index) of 15 European Union countries (EU15) during the period 2005-2012. The country codes are as follows: Belgium (Be), Denmark (dk), Germany (Dk), Ireland (Ie), Greece (Gr), Spain (Es), France (Fr), Italy (It), Luxembourg (Lu), Netherlands (Nl), Austria (At), Portugal (Pt), Finland (Fi), Sweden (Se), United Kingdom (Uk).
We notice that in 9 countries there has been a decrease of IPI (in 6 cases between 10% and 20%, and a lower decrease in the other 3 cases), while in only 6 cases there has been an increase (in 3 cases between 10% and 20%, with the remaining 3 countries with lower increase).
Austria has been the country with the highest increase and Greece the country with the higher decrease.
In EU27 IPI stays around 99% in the first semester of 2012 in comparison with the value of 100 in the base year 2005, what means a clear stagnation of industrial production.
Failure of EU industrial policy: In general we notice a failure of EU industrial policy, with a lack of support to industrial development that is in the center of the economic crisis of many European countries.