By Martin Baccardax
LONDON (MNI) - Eurozone industrial production contracted sharply in May,
according initial estimates published Wednesday by Eurostat, and a downward
revision for the April reading, the second consecutive slippage from the
original estimate, suggests significant lost momentum in the sector.
Industrial output in May fell by -0.4% on the month, Eurostat said, well
shy of the MNI median forecast of a +0.2% gain. When compared to April 2014,
production rose by +1.6%, Eurostat said, weaker than the +2.0% figure
anticipated by analysts polled by MNI.
April's reading was revised to 0.0% from an original estimate of +0.1%,
Eurostat said, even as the annual figure was bumped up to 0.9% from 0.8%.