Eurozone Industrial Production falls 1.1% MoM in July vs. -0.7% expected

Dhwani Mehta FXStreet

Eurozone Industrial Production showed a bigger-than-expected drop in July, the official data showed on Wednesday, suggesting that the manufacturing sector is losing its recovery momentum.

Eurozone’s Industrial Output fell 1.1% MoM, the Eurostats said in its latest release, vs. -0.7% expected and a 0.4% increase reported in June.

The bloc’s annual Industrial Production declined 2.2% in July, compared with a 1.1% decrease in June and expectations of a 0.3% drop.

EUR/USD reaction

The shared currency is unfazed by the below-forecast German industrial figures. At the time of writing, EUR/USD is trading at around 1.0735, down 0.14% on the day.

Author

Dhwani Mehta

FXStreet

Residing in Mumbai (India), Dhwani is a Senior Analyst and Manager of the Asian session at FXStreet. She has over 10 years of experience in analyzing and covering the global financial markets, with specialization in Forex and commodities markets.

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