Weak industrial production sparks call for cut in interest rates

EUROZONE industrial production was weaker than expected in June, strengthening the call for an interest rate cut by the European Central Bank (ECB).

Output rose 0.5% from the previous month and fell 1.2% from a year earlier, according to the latest Eurostat figures.

The biggest monthly decrease was in Ireland, where output fell 9.6%, but this has been described by economists as a blip. However, Fine Gael said the shocking drop in output was due to Government neglect.