Investing.com – Industrial production in the euro zone rose less-than-expected in July, official data showed on Wednesday.
In a report, Eurostat, the European statistics agency said industrial production rose by a seasonally adjusted 1.0% in July, falling short of expectations for a 1.5% gain.
June’s figure was revised to a 0.8% from a previously reported 0.7% drop.
Year-on-year, industrial production rose at an annualized rate of 4.2% in July, after climbing at a rate of 2.6% in the previous month. Analysts had expected industrial production to rise at an annualized rate of 4.6%.
Following the release of the data, the euro held on to losses against the U.S. dollar, with EUR/USD shedding 0.2% to trade at 1.3651.
Meanwhile, European stock markets were higher. The EURO STOXX 50 rose 0.2%, France’s CAC 40 climbed 0.25%, Germany's DAX edged 0.15% higher, while the FTSE 100 gained 0.45%.
In a report, Eurostat, the European statistics agency said industrial production rose by a seasonally adjusted 1.0% in July, falling short of expectations for a 1.5% gain.
June’s figure was revised to a 0.8% from a previously reported 0.7% drop.
Year-on-year, industrial production rose at an annualized rate of 4.2% in July, after climbing at a rate of 2.6% in the previous month. Analysts had expected industrial production to rise at an annualized rate of 4.6%.
Following the release of the data, the euro held on to losses against the U.S. dollar, with EUR/USD shedding 0.2% to trade at 1.3651.
Meanwhile, European stock markets were higher. The EURO STOXX 50 rose 0.2%, France’s CAC 40 climbed 0.25%, Germany's DAX edged 0.15% higher, while the FTSE 100 gained 0.45%.