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FX.co ★ Eurozone Industrial Production Recovers In July

Eurozone Industrial Production Recovers In July

Eurozone industrial production increased in July after falling for two straight months, Eurostat reported Wednesday.

Industrial output grew 1.5 percent month-on-month in July, reversing a 0.1 percent fall in June and 1.1 percent decrease in May. This was also faster than the economists' forecast of +0.6 percent.

All components of production except energy logged a monthly growth in July.

Production of non-durable consumer goods grew 3.5 percent and that of capital goods was up 2.7 percent. Durable consumer goods output was up 0.6 percent, while energy output dropped 0.6 percent.

On a yearly basis, industrial production growth eased to 7.7 percent in July from 10.1 percent in June. Growth was forecast to climb 6.3 percent. Production in the EU27 grew 1.4 percent on month in July taking the annual growth to 8.3 percent.

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