Eurozone Industrial Production remains flat in June vs. -0.1% estimates

Sagar Dua FXStreet

The Eurozone industrial sector activity remained flat in June, while it was expected to decline 0.1%, according to data published by Eurostat. In May, Industrial production contracted by 0.3%, revised lower from -0.2%.

On an annualized basis, industrial output contracted at a faster-than-expected pace of 1.2%. The data was expected to decline by 0.8. In May, Industrial Production contracted by 1%.

Market reaction

The Euro (USD) has not shown a significant reaction to the mixed Eurozone Industrial Production data. At press time, EUR/USD trades subduedly at around 1.1525.

Economic Indicator

Industrial Production s.a. (MoM)

The Industrial Production index, released by Eurostat on a monthly basis, measures changes in the price-adjusted output of industry. It is a widely-followed indicator to gauge the strength in the Eurozone’s manufacturing sector. Generally, a high reading is seen as bullish for the Euro (EUR), while a low reading is seen as bearish.

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