1051 GMT - The outlook for industrial production in the eurozone is still poor, according to Capital Economics economist Lily Millard. Output fell 0.6% on month overall in the bloc, but excluding notably volatile Ireland, it tumbled 1.3%, she says in a note. While the eurozone's economy has turned a corner this year, it is largely driven by the pickup in services, while the manufacturing sector struggles. Indeed, production in Germany and Italy has been extremely weak since early 2023, she notes. Meanwhile, survey data from purchasing manufacturers remains in contractionary territory, Millard adds. (edward.frankl@wsj.com)
(END) Dow Jones Newswires
July 15, 2024 06:51 ET (10:51 GMT)
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