Sure! Here’s the translation to American English:
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Between the years 2000 and 2024, industrial production in the European Union (EU) has shown an average growth of 0.6% per year, a figure that reveals both the internal dynamics of the region and the economic crises that have affected it. The early 2000s were marked by robust growth, reaching 2.0%; however, this period of prosperity was abruptly interrupted by the financial crisis of 2007 and 2008. During those years, many EU countries faced production declines of up to two digits, affecting even those that had enjoyed sustained growth until then.
After overcoming the most critical phase of the crisis, industrial recovery became evident between 2010 and 2019. However, the rates observed during this period did not reach even half of the figures recorded before the crisis, suggesting a still fragile recovery in which countries had to adapt to a new economic environment.
The arrival of the Covid-19 pandemic in 2020 worsened the situation, causing a 7.4% decline in industrial production at the European level. Despite this setback, between 2021 and 2024, the annual decline moderated, averaging 0.4%. This indicates that, although the recovery has been challenging, there are signs of stabilization in the sector.
Disparities in industrial growth are notable among different EU countries. Ireland and Poland have emerged as leaders in this area, with average growth rates of 5.6% and 4.9%, respectively. In contrast, Italy and Portugal have suffered the largest declines, with decreases of -1.1% and -0.9%.
This landscape highlights a constantly evolving European industrial picture, where, despite the challenges, there are indications of recovery and growth in certain regions. The evolution of industrial production during these years serves as a mirror of the economic cycles and policies that have influenced the EU’s industry.
Source: MiMub in Spanish
