In the euro zone, industrial production in June showed a monthly increase of 0.7% from the previous 2.1% (revised figure from + 0.8%) against the + 0.2% of the Bloomberg consensus. On an annual basis, the figure showed growth of 2.4% compared to + 1.6% in the past reading and the 1% indicated by analysts.
“The prospects for eurozone producers remain worrying, however,” warns Bert Colijn senior economist of the eurozone for ING -. The weakening of demand appears to be ongoing as purchasing power problems continue and supply chain problems are easing. Also, from now on, the surge in energy prices will hinder production. This means that although the month of June was decent in terms of production, it is likely that the next few months will see a further weakening ”.