A report issued at 10:00 GMT this morning by the agency Eurostat revealed a moderate downturn in industrial production levels across the euro zone. While many analysts had anticipated a very weak growth of only 0.1%, the 0.7% decline was hardly expected. Though analysts see the weakness as a result of rampant declines globally, the EUR has been struggling to hold its value in these times of risk flight.
Data released by France this week has also unsettled several investors. The nation’s gross domestic product (GDP) was expected to rise by approximately 0.3%, but saw zero growth in the second quarter instead. These reports point to a period of stagnation in Europe as its major economies struggle to fend off the market bears.
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