Investing.com – Industrial production in the euro zone rose unexpectedly in August, official data showed on Wednesday.
In a report, Eurostat, the European statistics agency said industrial production rose by a seasonally adjusted 1.2% in August, confounding expectations for a 0.8% decline.
July’s figure was revised up to a 1.1% gain from a previously reported 1.0% increase.
Year-on-year, industrial production rose at an annualized rate of 5.3% in August, after climbing at a rate of 4.4% in the previous month. Analysts had expected industrial production to rise at an annualized rate of 2.1%.
Following the release of the data, the euro added to gains against the U.S. dollar, with EUR/USD jumping 0.96% to trade at 1.3771.
Meanwhile, European stock markets were broadly higher. The EURO STOXX 50 rose 0.65%, France’s CAC 40 climbed 0.7%, Germany's DAX jumped 1.1% higher, while the FTSE 100 edged 0.15% higher.
In a report, Eurostat, the European statistics agency said industrial production rose by a seasonally adjusted 1.2% in August, confounding expectations for a 0.8% decline.
July’s figure was revised up to a 1.1% gain from a previously reported 1.0% increase.
Year-on-year, industrial production rose at an annualized rate of 5.3% in August, after climbing at a rate of 4.4% in the previous month. Analysts had expected industrial production to rise at an annualized rate of 2.1%.
Following the release of the data, the euro added to gains against the U.S. dollar, with EUR/USD jumping 0.96% to trade at 1.3771.
Meanwhile, European stock markets were broadly higher. The EURO STOXX 50 rose 0.65%, France’s CAC 40 climbed 0.7%, Germany's DAX jumped 1.1% higher, while the FTSE 100 edged 0.15% higher.