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Eurozone industrial production sharply fell in May, levelling an impulse fixed in April. Thus, the weak and unstable economic growth remains for the fourth month running.
Industrial production for all 19 members of the Eurozone was quite volatile during the last months. However, general industrial production rose in Q1, after 3-month fall. It has put a positive impact on economic growth in the region.
Indices for the next quarter became weaker and demonstrated just signs of weak growth even before the Brexit. The next events created strong uncertainty that may put a pressure on weak economy.
According to a report released on Wednesday, industrial production fell by 1.2% on a month-over-month basis, after growth by 1.4%. The data for April were revised up to 1.4% from 1.1% previously stated. On a year-over-year basis, the index rose by 0.5%.
The data for May became less than forecasted. Experts expected a fall by 0.8% on a month-over-month basis and the growth by 1.3% on a year-over-year basis. Many experts expect economic growth for Q2 to be 0.3%-0.4%, after growth by 0.6% in Q1.