Eurozone Industrial Production remains flat in June vs. -0.1% estimates
The Eurozone industrial sector activity remained flat in June, while it was expected to decline 0.1%, according to data published by Eurostat. In May, Industrial production contracted by 0.3%, revised lower from -0.2%.
Eurozone industrial production remained steady in June, contrary to initial estimates of a 0.1% decline. This follows a 0.3% contraction in May, which has been revised downward from -0.2%. On an annualized basis, industrial output is now contracting at a faster rate of 1.2%. The Euro, however, has not reacted significantly to this mixed data.
The Euro (EUR/USD) is currently trading near 1.1525. The Eurozone Industrial Production index, published monthly by Eurostat, gauges the health of the manufacturing sector within the Eurozone. A high reading is typically bullish for the Euro, while a low reading is bearish.
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