Investing.com - Industrial production in the euro zone rose for the third consecutive month in April, easing 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 rose by a seasonally adjusted 0.4% in April, defying expectations for a 0.2% decline.
Industrial production in March was revised down to a 0.9% gain from a previously reported increase of 1%.
Year-on-year, industrial production fell at an annualized rate of 0.6% in April, after dropping at a rate of 1.4% in the preceding month. Analysts had expected industrial production to decline at an annualized rate of 1.2%.
Following the release of that data, the euro remained lower against the U.S. dollar, with EUR/USD shedding 0.18% to trade at 1.3289.
Meanwhile, European stock markets remained mixed following the data. The EURO STOXX 50 rose 0.2%, France’s CAC 40 added 0.2%, Germany's DAX slumped 0.1%, while London’s FTSE 100 dipped 0.1%.
In a report, Eurostat, the European statistics agency said industrial production rose by a seasonally adjusted 0.4% in April, defying expectations for a 0.2% decline.
Industrial production in March was revised down to a 0.9% gain from a previously reported increase of 1%.
Year-on-year, industrial production fell at an annualized rate of 0.6% in April, after dropping at a rate of 1.4% in the preceding month. Analysts had expected industrial production to decline at an annualized rate of 1.2%.
Following the release of that data, the euro remained lower against the U.S. dollar, with EUR/USD shedding 0.18% to trade at 1.3289.
Meanwhile, European stock markets remained mixed following the data. The EURO STOXX 50 rose 0.2%, France’s CAC 40 added 0.2%, Germany's DAX slumped 0.1%, while London’s FTSE 100 dipped 0.1%.