forex newsEurozone Industrial Production Rebounds More Than Forecast

Eurozone Industrial Production Rebounds More Than Forecast

Eurozone industrial production increased at a faster-than-expected pace in May, after falling in the previous month, data from Eurostat showed Thursday.

Industrial output climbed a seasonally adjusted 1.3 percent month-over-month in May, reversing a 0.8 percent fall in April, revised from a 0.9 percent decline reported earlier.

That was just above the 1.2 percent rise economists had forecast.

Among sectors, production of both durable and non-durable consumer goods grew 2.1 percent, each in May.

Energy production advanced 0.5 percent over the month and those of intermediate goods registered an increase of 1.6 percent.

On a yearly basis, industrial production growth accelerated to 2.4 percent in May from 1.7 percent in the prior month. That was in line with expectations.

In the EU28, industrial production expanded 1.2 percent monthly and by 2.4 percent yearly in May.

The material has been provided by InstaForex Company –

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