Investing.com - Industrial production in the euro zone rose 0.6% in July, offsetting the previous month’s decline, official data showed on Wednesday.
In a report, Eurostat, the European statistics agency said industrial production rose by a seasonally adjusted 0.6% in July, defying expectations for a 0.1% decline.
Industrial production fell by 0.6% in June.
Year-on-year, industrial production fell at an annualized rate of 2.3% in July, after dropping at a rate of 2.1% in the previous month. Analysts had expected industrial production to decline at an annualized rate of 3.3%.
Following the release of the data, the euro remained higher against the U.S. dollar, with EUR/USD adding 0.23% to trade at 1.2884.
Meanwhile, European stock markets remained broadly higher. The EURO STOXX 50 climbed 0.85%, France’s CAC 40 rose 0.65%, Germany's DAX advanced 0.75%, while London’s FTSE 100 added 0.3%.
In a report, Eurostat, the European statistics agency said industrial production rose by a seasonally adjusted 0.6% in July, defying expectations for a 0.1% decline.
Industrial production fell by 0.6% in June.
Year-on-year, industrial production fell at an annualized rate of 2.3% in July, after dropping at a rate of 2.1% in the previous month. Analysts had expected industrial production to decline at an annualized rate of 3.3%.
Following the release of the data, the euro remained higher against the U.S. dollar, with EUR/USD adding 0.23% to trade at 1.2884.
Meanwhile, European stock markets remained broadly higher. The EURO STOXX 50 climbed 0.85%, France’s CAC 40 rose 0.65%, Germany's DAX advanced 0.75%, while London’s FTSE 100 added 0.3%.