European paint production in August slightly higher than the previous year

German industrial production recovered at a relatively slow pace, still down 6.5% in August from a year earlier. In the EU-27 economic area, the index rose to 102.2 points. This represents an increase of +3.3% compared to the previous month and +0.5% compared to the previous year. In Germany, the production index rose to 87.2 points, only slightly more than in previous months. This is an increase of 2.9% compared to the previous month and a decrease of -6.5% compared to the previous year. Considering that the share of German industry is about 25% in the EU27 indicator, in the EU26 (i.e. the economic area without Germany), an increase of almost 2.8% is expected.

Forecast for the fourth quarter
Comparing the development of production in the two economic regions, it is clear that the EU26 states experienced significantly larger declines in March and April, but in May, both regions experienced the same decline. Since June, the EU-26 has been outperforming Germany. In addition, detailed information is provided in the Chemical Research Market Report Plus, which analyzes current production and domestic demand for coatings and inks in Germany for the third quarter of 2020. The nearly 20-page report will also contain forecasts for Coatings & Inks. The fourth quarter will thus provide an estimate of market developments throughout 2020.