France, Italy Factory Output Rebounds Sharply

France and Italy posted large rebounds in industrial production for May, providing some safety over the prospects for an economic recovery in Europe.

French industrial production increased by 19.6% on a monthly basis, while Italy recorded 42.1%. It is worth noting that one of the most important industrial provinces of Italy had recorded severe declines due to the effects of the pandemic.

The numbers came above expectations and offset the weak data that came from Germany earlier this week.