Last month’s reading from the euro zone’s regional industrial production report showed stagnation at 0% growth. This month’s forecast was for a 0.1% downturn in industrial output. Today’s morning publication of this month’s production figure, however, revealed mild growth in the region’s industrial sector.
The morning release highlighted an optimistic 0.2% growth in industrial output, likely connected to the region’s boost in German factory hiring, which has risen 2.7%, year-on-year. Also behind the surprise uptick was a boost in demand for durable consumer goods such as electronics and furniture. Analysts have so far said the data is a positive indicator, but will likely not be enough to prevent a sluggish second quarter.
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