Eurozone: Bounce back in industrial production - ING
Bert Colijn, senior economist at ING, notes that Eurozone’s industrial production bounced back by 0.9% in May after a weak start to the year.
Key Quotes
“The May data surprised somewhat on the upside, mainly due to a strong performance in France and some recovery in Germany and Italy. The growth was broad-based, with only production in intermediate goods declining on the month, while consumer goods production grew at above 2% for both durable and nondurable goods production.”
“Still, industrial production is a very volatile indicator and after the poor April data, industry also needs to have grown at a decent pace in June in order for a contraction to be averted over the whole of 2Q.”
“For the ECB, this rounds out a batch of data that will have brought mixed feelings about the state of the eurozone economy. It seems likely that growth will have slowed significantly in 2Q, making 1Q a positive exception more than the rule when looking at the recent growth path.”
Author
Sandeep Kanihama
FXStreet Contributor
Sandeep Kanihama is an FX Editor and Analyst with FXstreet having principally focus area on Asia and European markets with commodity, currency and equities coverage. He is stationed in the Indian capital city of Delhi.
