Latest data released by Eurostat - 14 August 2019
- Prior +0.9%; revised to +0.8%
- Industrial production WDA -2.6% vs -1.5% y/y expected
- Prior -0.5%; revised to -0.8%
After a bit of a reprieve in May (boosted by one-off Airbus production), industrial production slumped again in June with the annual estimate dropping sharply. This just reaffirms weakening factory conditions in the euro area and doesn't bode well for the Q3 outlook.
The only bright spot is that this report pertains to Q2 data and has already been factored into the GDP report seen two weeks ago - which matches the secondary reading today.