Industrial production in the Eurozone increased more than expected in Augustaccording to official data released by Eurostat on Wednesday, suggesting that activity in the bloc’s manufacturing sector is regaining traction.
The industrial production of the old continent increased by 1.5% month-on-month, compared to the 0.6% expected and -2.3% prior.
In annual terms, industrial production increased by 2.5% in August, compared to the 1.2% expected and -2.5% in July.
About Eurozone Industrial Production
Industrial production published by the European Commission’s statistics office, Eurostat, measures the production of factories and mines in the Eurozone. Changes in the trend of industrial production are closely watched as an indicator of the strength of the manufacturing sector. A higher than anticipated reading is bullish for the euro, while a lower reading is bearish.
Source: Fx Street
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