Industrial production grows 1.5% in July, above the 0.6% expected

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Eurozone industrial production grew 1.5% monthly in July, improving on the 0.6% expected increase and the 0.1% drop in June (revised from -0.3%). This is the first increase after two consecutive months of decreases, and it is also the largest increase recorded since November 2020.

Year-on-year, the indicator has grown by 7.7%, above the 6% forecast but below the previous 10.1% (figure revised up from 9.7%). This is the fifth consecutive month of increases in annual industrial production, although it registers its lowest growth in five months.

EUR / USD reaction

EUR / USD remains strong on Wednesday, hitting daily highs at 1.1828 after briefly falling early in the European morning to 1.1799. At time of writing, the pair is trading above 1.1825, gaining 0.19% on the day.

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