So much for Europe’s recovery. Industrial production just stalled out for June and July.
From June to July, production didn’t move. And month-over-month, June industrial production fell 0.1% in the eurozone, and increased 0.1% in the broader EU.
So basically, Europe’s recovery has sputtered to a halt. This isn’t that surprising considering the data on Germany this morning that showed negative economic sentiment.
From EuroStat (emphasis ours):
Among the Member States for which data are available, industrial production rose in 10, fell in 10 and remained unchanged in Germany and the Netherlands. The highest increases were registered in Estonia (+5.2%), Ireland (+3.2%) and Sweden (+2.6%), and the largest decreases in Finland (-3.6%), Greece (-2.5%) and Slovenia (-2.0%).
Check out that obvious flat line over the past two months (from Eurostat):