Eurozone industrial production falls below expectations
Eurozone industrial production contracted 0.5% month over month, falling short of market expectations for no change.
The decline accelerated from the previous month's 0.1% decrease, signaling deeper weakness in the region's industrial and manufacturing activity.
On an annual basis, industrial production fell 1.1%, compared with forecasts for a 0.1% decline. The previous annual reading was unchanged at 0.0%. Weaker-than-expected data could increase downside risks to Eurozone economic growth and support expectations for interest-rate cuts by the European Central Bank (ECB).
Comments