Much of the recent data out of Europe has reflected that of an improving economy.
But today’s industrial production numbers are a bit worrisome.
Industrial output in Italy unexpectedly fell 1.1% in July, missing expectations for a 0.3% increase.
Industrial production across the 17-nation eurozone fell 1.5%, which was worse than the 0.3% decline expected.
Market strategists have been recommending European stocks as a way to play the global recovery. Today’s numbers may give prospective investors some pause.
Here’s a historical chart from Markit’s Chris Williamson.