Growth in industrial production in the euro area exceeded forecasts in May

In May, data from Eurostat indicated the faster pace of recovery of industrial production in the euro area than it was expected. May growth compared to the previous month was recorded at 0.9% after the April decline of 0.4%. Experts had expected an increase of 0.2%. Compared to the same period a year earlier, production dropped by 0.5%, while economists' estimates suggested a decline of 1.5%. The production of energy and capital goods also increased. At the same time, the release of intermediate goods went down. The European Union countries in May increased the volume of industrial production by 0.8%. Over the year, their figure increased by 0.4%.

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