Industrial production was already quite volatile last year in the Eurozone, as the US-China trade war was keeping the sentiment pretty weak for manufacturing and the industrial production. But, it went through some major declines in May and June, during the lock-downs, like most of the other sectors. In May we saw a strong bounce and today’s report showed yet another decent increase in activity for June, but the year-on-year (YoY) figures still remain quite negative.

Eurozone June Industrial Production Report

Similar to May, the rebound in euro area factory output was less-than-expected but still shows signs of improvement since bottoming out in April. That said, the recovery remains rather tepid with overall conditions still way off relative to that of a year ago.