Eurozone Industrial Production rises 0.7% MoM in June, beats estimates
|Eurozone’s Industrial Production increased more than expected in June, the official data published by Eurostat showed on Friday, suggesting that the bloc’s manufacturing sector activity recovery is back on track.
The industrial output in the old continent increased 0.7% MoM vs. a 0.2% rise expected and 2.1% last.
On an annualized basis, the industrial output rose by 2.4% in June versus a 0.8% rise expected and May’s 1.6%.
FX implications
The shared currency remains unfazed by the upbeat Eurozone industrial figures. At the time of writing, EUR/USD is trading -0.16% on the day at 1.0300.
About Eurozone Industrial Production
Industrial Production is released by Eurostat. It shows the volume of production of Industries such as factories and manufacturing. Uptrend is regarded as inflationary which may anticipate interest rates to rise. Usually, if high industrial production growth comes out, this may generate a positive sentiment (or bullish) for the EUR, while low industrial production is seen as a negative sentiment (or bearish).
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