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(CEP News) Frankfurt - Euro zone industrial production fell 1.7% year-over-year in July, Eurostat reported on Friday, down from both the 1.0% decline expected and the 0.8% fall reported in the previous month. Meanwhile, June's annualized figure was revised down from an initial figure of -0.5%.
According to Eurostat, output in the energy sector slipped 0.3% in the 12 months to July, while capital good production contracted 1.1% and non-durable consumer goods lost 1.5%. "Intermediate goods decreased by 2.3% in the euro area and by 2.0% in the EU27. Durable consumer goods fell by 5.7% and 4.0% respectively," Eurostat added. In monthly terms, industrial output in the monetary union continued its decline, losing 0.3% in July. Economists had anticipated a slightly less pronounced fall of 0.2% for the month, mirroring June's 0.2% loss. June's figure was revised up from a reading of 'no change'. By Todd Wailoo,
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, edited by Nancy Girgis,
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