Eurozone Industrial Output Rises 0.6% In July

Eurozone Industrial Output Rises 0.6% In July


Industrial production in the euro area increased in July, recovering from the previous month's decline, and the rate of growth exceeded economists' forecast, data released by statistical office Eurostat showed Wednesday.
Industrial production increased 0.6 percent on a monthly basis in July, reversing June's 0.6 percent decrease. Economists were looking for a 0.1percent gain.
In EU27, meanwhile, production increased 1.1 percent in July compared to June, the agency said.
Capital goods production rose 2.4 percent sequentially during the month, while intermediate goods output edged up 0.1 percent. Output of energy products was lower by 1.2 percent than in June, and that of durable consumer goods by 0.5 percent.
Year-on-year, industrial production declined 2.3 percent in July, faster than the 2.1 percent fall seen in June, which was revised down from 2.2 percent. Economists had forecast a 3.3 percent annual fall.