• Prior +0.8%; revised to +2.1%
  • Industrial production +2.4% vs +0.8% y/y expected
  • Prior +1.6%

The material revision higher in May is something to note but the June reading is also solid, reflecting another monthly increase in industrial output. Looking at the details, production of capital goods rose by 2.6% and energy by 0.6%, while production of intermediate goods fell by 0.1%, durable consumer goods by 0.6% and non-durable consumer goods by 3.2%.

That said, this pertains to Q2 data and from the PMI readings, we already saw indications of a significant decline in factory activity in July so that is the latest look at the euro area economy.