According to the data from the European Union’s statistics agency, in July, the eurozone’s industrial production rose by 0.6% compared to a 0.3% drop in the previous month. In the given period, the indicator touched the highest level in six months.
Earlier, experts polled by Bloomberg had anticipated a slight increase by 0.3%.
Compared to the same period last year the indicator climbed by 1.9% against the forecast of a 0.7% rise.
The June data was upwardly revised. Thus, on a monthly basis, industrial output reduced by 0.3% instead of 0.4% as it was said earlier. Annually, the indicator advanced by 1.5% instead of a 1.2% growth, according to the preliminary estimates.
The report reads that in July, Germany’s industrial production inched up by 0.5% month on month; in Spain, the indicator increased by 0.6%; and in Italy, it advanced by 1.1%. Meantime, in France, the industrial output contracted by 0.8% compared to the previous month. However, in Greece, the indicator showed the first rise in four months growing by 4.3%.
In 28 European countries, in July, the industrial production expanded by 1.8% compared to the same month last year.
