Euro zone industrial production stronger than expected

Euro zone industrial production was stronger than expected in July, rising thanks to a higher volume of energy, capital and durable consumer goods, data from The European Union's statistics office Eurostat showed on Monday.

Industrial output in the 19 countries sharing the euro rose 0.6 per cent month-on-month for a 1.9 per cent year-on-year gain.

Economists polled by Reuters had expected a 0.3 per cent monthly rise and a 0.6 per cent annual gain.

Eurostat also revised up data for June to a 0.3 per cent monthly fall from -0.4 per cent and to a 1.5 per cent year-on-year rise from the previously reported 1.2 per cent increase.

The July numbers were mainly driven by a 3 per cent monthly rise in the output of energy, 1.4 per cent higher volume of capital goods production and a 1.3 per cent increase in the output of durable consumer goods.

Reuters