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Eurozone May industrial production up 0.2% m/m

EUROZONE DATA
  • Eurozone industrial production rose 0.2% m/m in May, slower than the 1.0% rise in April but broadly in line with consensus (0.3%). It fell 2.2% y/y, faster than consensus of -1.2% y/y.
  • Capital goods offered support, rising 1.0% m/m and 2.5% y/y, while energy exerted a predictable drag (-1.1% m/m).
  • With the ECB focused heavily on inflation, the expected m/m slowdown in industrial production will be unlikely to alter its deliberations ahead of the July monetary policy meeting.

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