Euro Zone Began Second Half of 2023 With Slump in Factory Output
- Industrial malaise continued in July, putting onus on services
- Drop erases all factory gains seen in second quarter
More factory weakness might raise the prospect of the region as a whole suffering another contraction.
Photographer: Akos Stiller/BloombergThis article is for subscribers only.
The euro area began the second half of the year with a monthly slump in industrial production, adding to signs that manufacturing will keep weighing on economic growth.
Output fell 1.1% in July, exceeding the 0.9% drop that forecasters had estimated in a Bloomberg survey. The drop from a month earlier erased all gains made throughout the second quarter.