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Eurozone industry figures beat forecasts


economy

Eurozone industry figures beat forecasts

Industrial production in the eurozone was stronger than expected in July, according to figures published by Eurostat.

Thanks to a rise in the volume of energy, capital goods production and durable consumer goods, industrial output in the 19 countries sharing the single currency rose 0.6 percent month-on-month, making a 1.9 percent gain year-on-year.

A survey of economists had revealed they expected a 0.3 percent monthly rise, and a 0.6 percent yearly gain.

The EU’s stats office also revised data for June upwards, to a 0.3 percent monthly fall from -0.4 percent, and to a 1.5 percent year-on-year rise from the previously reported 1.2 percent increase.

The increase in industrial production suggests the tentative recovery is continuing, and follows two months of contraction amid fears over Greece and China.

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