Eurozone industry still employs 28.5 million people in Q4 2023, yet manufacturing employment slipped 0.2% year on year and hours worked edged down 0.1% quarter on quarter. At the same time, capacity use sits at 79.5% and new orders strengthen in December, creating a sharp tension between steady activity and soft labor demand. We pull together the latest employment, production, and pricing signals behind these shifts so you can see what is moving and what is not.
Key Takeaways
- Eurozone employment in industry at 28.5 million persons in Q4 2023
- Eurozone manufacturing employment decreased by 0.2% yoy in 2023
- Hours worked in Eurozone industry down 0.1% qoq Q4 2023
- Eurozone gross fixed capital formation in industry €450 billion in 2023
- Manufacturing investment in Eurozone up 1.2% yoy in 2023
- Eurozone capacity utilization investment-related 80.2% Q4 2023
- Eurozone industrial new orders index up 1.2% mom in Dec 2023
- Manufacturing new orders in Eurozone rose 2.1% mom excluding ships/aviation Dec 2023
- Eurozone total new orders increased 1.4% mom in December 2023
- Eurozone producer prices index (PPI) for industry +0.3% mom Dec 2023
- Eurozone manufacturing PPI +2.1% yoy December 2023
- Energy prices in Eurozone industry -5.2% yoy Dec 2023
- In December 2023, Eurozone industrial production index (excluding construction) increased by 0.9% month-on-month, after a revised -0.1% in November 2023
- Eurozone manufacturing production rose 1.0% in December 2023 from November, driven by capital goods output up 1.6%
- In Q4 2023, Eurozone industrial production excluding energy grew by 0.7% quarter-on-quarter
Eurozone industry saw steady employment but falling hours, with modest December production growth and soft manufacturing demand.
Related reading
01 · Category
Employment24 stats
01
Eurozone employment in industry at 28.5 million persons in Q4 2023
02
Eurozone manufacturing employment decreased by 0.2% yoy in 2023
03
Hours worked in Eurozone industry down 0.1% qoq Q4 2023
04
Unemployment rate in Eurozone manufacturing sector 6.1% in 2023
05
Eurozone industrial capacity utilization rate 79.5% in Q4 2023
06
December 2023 Eurozone manufacturing PMI employment sub-index 49.2
07
Eurozone industry employment index (2015=100) at 97.8 in Q4 2023
08
Q3 2023 Eurozone hours worked in industry -0.3% qoq
09
Eurozone female employment in manufacturing 22% of total in 2023
10
Youth employment (15-24) in Eurozone industry 8.2% in 2023
11
Eurozone part-time workers in industry 15.4% in Q4 2023
12
Temporary employment in Eurozone manufacturing 12.1% Q4 2023
13
Average hours worked per week in Eurozone industry 37.2 in 2023
14
Eurozone industrial vacancies rate 2.1% in Q3 2023
15
November 2023 Eurozone manufacturing employment PMI 48.9
16
Eurozone self-employed in industry 9.5% of total employment 2023
17
Q2 2023 Eurozone industry employment stable 0.0% qoq
18
Eurozone older workers (55+) in manufacturing 25.3% in 2023
19
Labour cost index in Eurozone industry +4.2% yoy Q4 2023
20
Eurozone manufacturing absenteeism rate 4.8% in 2023
21
January 2024 Eurozone employment PMI forecast 49.5
22
Eurozone high-skilled employment in industry 28.7% Q4 2023
23
Low-skilled workers in Eurozone manufacturing 35.2% 2023
24
Eurozone industry productivity per hour +0.5% yoy 2023
Interpretation
Employment Interpretation
Despite a small decline in jobs and hours worked, the Eurozone’s industrial sector appears to be running on a more expensive, underutilized engine, with productivity barely chugging along at half a percent while labor costs sprint ahead at over four.
02 · Category
Investment21 stats
01
Eurozone gross fixed capital formation in industry €450 billion in 2023
02
Manufacturing investment in Eurozone up 1.2% yoy in 2023
03
Eurozone capacity utilization investment-related 80.2% Q4 2023
04
ICT investment in Eurozone industry €120 billion annually 2023
05
R&D expenditure in Eurozone manufacturing 3.1% of value added 2023
06
Eurozone machinery & equipment investment +2.5% in 2023
07
Construction investment related to industry -1.8% yoy 2023
08
Eurozone green investment in industry €85 billion in 2023
09
FDI inflows into Eurozone manufacturing €250 billion 2023
10
Eurozone intangible assets investment €70 billion industry 2023
11
Q4 2023 Eurozone investment in capital goods +0.9% qoq
12
Depreciation rate in Eurozone industry assets 4.2% 2023
13
Eurozone venture capital in manufacturing startups €15 billion 2023
14
Public investment in Eurozone industry infrastructure €60 billion 2023
15
November 2023 Eurozone capex sentiment index 15.2
16
Eurozone investment in energy-efficient tech +4.1% yoy 2023
17
Q3 2023 gross fixed capital formation industry +0.4% qoq
18
Eurozone automotive sector investment €45 billion 2023
19
Chemical industry capex €30 billion in Eurozone 2023
20
Eurozone investment rate in industry 22.5% of GDP 2023
21
Digital transformation investment €50 billion manufacturing 2023
Interpretation
Investment Interpretation
While the Eurozone's industrial heart is still beating, evidenced by a €450 billion investment in fixed capital and promising upticks in high-tech and green sectors, its pulse is frustratingly faint—with sluggish overall growth, a concerning decline in construction, and a capacity utilization rate suggesting it's barely off the couch.
03 · Category
Orders25 stats
01
Eurozone industrial new orders index up 1.2% mom in Dec 2023
02
Manufacturing new orders in Eurozone rose 2.1% mom excluding ships/aviation Dec 2023
03
Eurozone total new orders increased 1.4% mom in December 2023
04
Domestic new orders in Eurozone manufacturing +0.8% mom Dec 2023
05
Eurozone export new orders +2.5% mom in Dec 2023
06
Q4 2023 Eurozone industrial new orders volume +1.1% qoq
07
Eurozone new orders index (2015=100) at 102.7 in Dec 2023
08
Manufacturing turnover in Eurozone up 1.3% mom Dec 2023
09
Eurozone capital goods new orders +2.8% mom Dec 2023
10
Consumer goods new orders in Eurozone -0.2% mom Dec 2023
11
Eurozone intermediate goods orders +1.0% mom Dec 2023
12
Annual 2023 Eurozone new orders down 2.0% yoy average
13
November 2023 Eurozone new orders +0.9% mom revised
14
Eurozone manufacturing orders yoy -3.1% Dec 2023 excluding large orders
15
October 2023 Eurozone industrial turnover +1.5% mom
16
Eurozone foreign orders +3.2% mom in Q4 2023
17
September 2023 new orders -0.7% mom Eurozone
18
Eurozone machinery new orders index 101.5 Dec 2023
19
2023 average Eurozone turnover growth -0.5% yoy
20
Eurozone chemical industry orders +1.6% mom Dec 2023
21
August 2023 Eurozone new orders +1.2% mom
22
Eurozone transport equipment orders -1.1% mom Dec 2023
23
January 2024 Eurozone orders PMI new orders sub-index 52.1
24
Q3 2023 Eurozone new orders +0.6% qoq
25
Eurozone food turnover +0.4% mom Dec 2023
Interpretation
Orders Interpretation
Eurozone factories, while nursing a slightly bruised year-end hangover from 2023's overall dip, saw a welcome December espresso shot of orders, led by a strong jolt of export and capital goods demand, suggesting the industrial patient might just be stirring back to life.
More related reading
04 · Category
Prices26 stats
01
Eurozone producer prices index (PPI) for industry +0.3% mom Dec 2023
02
Eurozone manufacturing PPI +2.1% yoy December 2023
03
Energy prices in Eurozone industry -5.2% yoy Dec 2023
04
Eurozone intermediate goods PPI -0.1% mom Dec 2023
05
Capital goods producer prices +0.4% mom Eurozone Dec 2023
06
Consumer goods PPI stable 0.0% mom Dec 2023 Eurozone
07
Eurozone industrial electricity prices €0.18/kWh Q4 2023
08
Natural gas industrial prices €35/MWh Dec 2023 Eurozone average
09
Unit labour costs in Eurozone industry +3.8% yoy 2023
10
Eurozone import prices index -1.2% yoy Dec 2023 industry
11
Raw materials PPI Eurozone +0.5% mom Dec 2023
12
Eurozone manufacturing output prices +1.9% yoy Q4 2023
13
Construction materials prices +2.3% yoy Dec 2023
14
Eurozone PPI total industry +1.4% yoy Dec 2023
15
November 2023 Eurozone PPI -0.2% mom revised
16
Eurozone chemical products PPI +1.1% mom Dec 2023
17
Metal prices index Eurozone industry -3.4% yoy 2023
18
Eurozone food & beverages PPI +0.7% mom Dec 2023
19
Machinery PPI stable +0.1% mom Dec 2023
20
Eurozone transport equipment prices +0.6% mom Dec 2023
21
Industrial services PPI +1.8% yoy Q4 2023 Eurozone
22
Eurozone wage costs per hour in manufacturing €32.5 Q4 2023
23
Input costs PMI Eurozone manufacturing 52.3 Jan 2024
24
Output price expectations PMI 51.8 Jan 2024
25
Eurozone steel prices €650/tonne hot-rolled coil Dec 2023
26
Aluminium industrial prices €2,200/tonne LME Dec 2023 Eurozone
Interpretation
Prices Interpretation
While core industry producer prices are tentatively stabilizing thanks to falling energy costs, lurking pressures from rising wages and creeping input costs suggest the Eurozone's price reprieve is more of a nervous truce than a decisive victory.
05 · Category
Production29 stats
01
In December 2023, Eurozone industrial production index (excluding construction) increased by 0.9% month-on-month, after a revised -0.1% in November 2023
02
Eurozone manufacturing production rose 1.0% in December 2023 from November, driven by capital goods output up 1.6%
03
In Q4 2023, Eurozone industrial production excluding energy grew by 0.7% quarter-on-quarter
04
Eurozone total industrial production stood at 104.2 index points (2015=100) in December 2023
05
Manufacturing output in the Eurozone expanded by 1.1% yoy in December 2023
06
Eurozone intermediate goods production increased 0.5% mom in December 2023
07
In 2023 annual average, Eurozone industrial production was down 0.2% from 2022
08
Eurozone consumer goods production rose 1.2% mom in December 2023
09
Energy sector production in Eurozone fell 2.1% mom in December 2023
10
Eurozone capital goods production surged 1.6% mom in December 2023
11
November 2023 Eurozone industrial production excluding construction was -0.1% mom, revised from -0.3%
12
Eurozone manufacturing PMI production sub-index reached 51.2 in January 2024
13
In October 2023, Eurozone industrial production grew 0.1% mom
14
Eurozone non-durable consumer goods output up 0.8% mom in December 2023
15
Q3 2023 Eurozone industrial production excluding construction +0.5% qoq
16
Eurozone durable consumer goods production +2.3% mom in December 2023
17
Annual 2023 Eurozone manufacturing production -1.6% yoy average
18
Eurozone electricity production index at 98.5 in December 2023 (2015=100)
19
September 2023 Eurozone industrial production -0.6% mom excluding construction
20
Eurozone mining and quarrying production +1.4% mom December 2023
21
Eurozone industrial production yoy -0.8% in December 2023
22
Q2 2023 Eurozone total industrial production +0.4% qoq
23
Eurozone chemical industry production index 105.3 in Dec 2023
24
August 2023 Eurozone manufacturing output -0.4% mom
25
Eurozone food production stable at 0.0% mom December 2023
26
January 2024 Eurozone industrial production forecast +0.3% mom
27
Eurozone machinery production +0.9% mom Dec 2023
28
2022 Eurozone industrial production peaked at 107.8 index
29
Eurozone transport equipment production -0.5% mom Dec 2023
Interpretation
Production Interpretation
In a late-arriving holiday gift to the economy, December’s Eurozone factories finally shook off their year-long slumber, with a broad-based production surge—led by a 1.6% jump in capital goods—offering a tantalizing, if fragile, hint of an industrial rebound just as the 2023 annual figures confirmed it was, regrettably, another year of overall decline.
Reference
Cite This Report
This report is designed to be cited. We maintain stable URLs and versioned verification dates. Copy the format appropriate for your publication below.
APA
Stefan Wendt. (2026, February 13). Eurozone Industry Statistics. Gitnux. https://gitnux.org/eurozone-industry-statistics
MLA
Stefan Wendt. "Eurozone Industry Statistics." Gitnux, 13 Feb 2026, https://gitnux.org/eurozone-industry-statistics.
Chicago
Stefan Wendt. 2026. "Eurozone Industry Statistics." Gitnux. https://gitnux.org/eurozone-industry-statistics.
Sources & references
11 datasets cited across this report · attribution is report-level