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Eurozone industry shows signs of slowing amid euro’s rise

Output declined by 0.6 percent during the month, giving up half the previous month's gain


August 14, 2017
The Canadian Press
The Canadian Press

Image: Getty Images

BRUSSELS—Official figures show that industrial output across the 19 countries that make up the eurozone fell in June, a development that will likely reinforce concerns about the export-sapping impact of the rising euro.

Eurostat said that output declined by 0.6 percent during the month, giving up half the previous month’s gain.

The fall, the first since February, was in line with predictions in financial markets, with many economists warning about the implications of the euro’s 10 percent rise against the dollar this year on the back of strong eurozone economic data and uncertainty over the economic program of US President Donald Trump.

Despite the June fall, industrial production was still a healthy 2.6 percent higher compared with a year earlier, though down on May’s 3.9 percent annual rate.