Eurozone Industrial Production falls by 1% in May vs. -0.2% expected

Eurozone’s Industrial Production in Germany showed a bigger-than-expected drop in May, the official data published by Eurostat showed on Wednesday, suggesting that the recovery in the manufacturing sector is losing momentum yet again.

The industrial output in the bloc arrived at -1.0% MoM vs. a 0.2% drop expected and 0.6% last.

On an annualized basis, the industrial output jumped by 20.5% in May versus a 22.2% increase expected and April’s 39.4%.