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EU industrial output flat
By Pan Pylas |
September 15, 2010, Wednesday
|
Print Edition
Print Edition
INDUSTRIAL production in the 16 countries that use the euro was flat in July from the previous month, official figures showed yesterday, a further sign that the sector's spring recovery has run its course.
Eurostat, the European Union's statistics office, said the unchanged reading for July followed a 0.2 percent decline in June and huge increases over the previous three months.
The unchanged reading was lower than expected - the consensus forecast in the markets was that industrial output rose 0.2 percent during the month.
The figures provide further evidence that the strong rebound in the industrial sector in the spring has eased as United States economic growth has slowed, many European countries enact austerity measures to get their public finances into shape and the previous need for restocking has diminished.
Eurostat also said that industrial production was unchanged for the wider 27-country EU, which also includes non-euro members such as Britain and Sweden.
Eurostat, the European Union's statistics office, said the unchanged reading for July followed a 0.2 percent decline in June and huge increases over the previous three months.
The unchanged reading was lower than expected - the consensus forecast in the markets was that industrial output rose 0.2 percent during the month.
The figures provide further evidence that the strong rebound in the industrial sector in the spring has eased as United States economic growth has slowed, many European countries enact austerity measures to get their public finances into shape and the previous need for restocking has diminished.
Eurostat also said that industrial production was unchanged for the wider 27-country EU, which also includes non-euro members such as Britain and Sweden.
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