Eurozone Industrial Production rises 0.8% MoM in May, beats estimates

Eurozone’s Industrial Production increased more than expected in May, the official data published by Eurostat showed on Wednesday, suggesting a gradual upturn in the bloc’s manufacturing sector activity.

The industrial output in the old continent arrived at 0.8% MoM vs. a 0.3% rise expected and 0.5% last. On an annualized basis, the industrial output rose by 1.6% in May versus a 0.3% growth expected and April’s -2.5%.