June data shows flat industrial production in the Eurozone, beating forecasts of a 0.1% decline and revising May’s contraction to 0.3%.
Eurozone industrial production remained unchanged in June, surprising analysts who had expected a 0.1% decline. The flat reading follows a revised 0.3% contraction in May, previously reported as a 0.2% drop.
Expectations had leaned toward a slight downturn, reflecting broader concerns over economic momentum in the region. The data suggests resilience in the sector despite ongoing challenges, including energy costs and supply chain disruptions.
Currency markets showed muted reaction, with EUR/USD trading modestly above 1.1500 as the US Dollar stabilized following July’s softer-than-expected CPI report. Gold prices retreated below $4,400 after briefly touching $4,450 earlier in the session.