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Euro zone industrial production falls 0.3% in June

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Investing.com -

Investing.com - Industrial production in the euro zone fell unexpectedly in June, fuelling concerns over the outlook for economic growth in the single currency bloc, official data showed on Wednesday.

In a report, Eurostat, the European statistics agency said industrial production declined by a seasonally adjusted 0.3% in June, disappointing forecasts for a 0.3% gain. Industrial production in May dropped 1.1%.

Year-on-year, industrial production was flat in June from a year earlier, compared to expectations for a 0.1% gain and after rising at a rate of 0.6% in the preceding month.

Following the release of that data, the euro held on to losses against the U.S. dollar, with EUR/USD easing down 0.16% to trade at 1.3348.

Meanwhile, European stock markets were higher. The DJ Euro Stoxx 50 rose 0.85%, France's CAC 40 tacked on 0.75%, Germany's DAX advanced 1%, while London's FTSE 100 picked up 0.1%.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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