Eurozone’s Industrial Production increased more than expected in August, the official data published by Eurostat showed on Wednesday, suggesting that the bloc’s manufacturing sector activity is regaining traction.
The industrial output in the old continent jumped by 1.5% MoM vs. a 0.6% increase expected and -2.3% last.
On an annualized basis, the industrial output rose by 2.5% in August versus a 1.2% rise expected and July -2.5%.
The shared currency came under renewed selling pressure despite the upbeat Eurozone industrial figures. At the time of writing, EUR/USD is trading at 0.9906, modestly flat on the day.
About Eurozone Industrial Production
Industrial Production is released by Eurostat. It shows the volume of production of Industries such as factories and manufacturing. Uptrend is regarded as inflationary which may anticipate interest rates to rise. Usually, if high industrial production growth comes out, this may generate a positive sentiment (or bullish) for the EUR, while low industrial production is seen as a negative sentiment (or bearish).