Eurozone output jumps more in July than expected

Eurozone industrial output jumped twice as much as expected in July, breaking a two-month contraction trend and raising hopes that the single currency area may start growing again in the third quarter after stalling in the previous three months.

Industrial production jumped 1% month-on- month in July, and was 2.2% higher on the year, well above expectations of economists polled by Reuters.

The annual expansion showed the strongest rise since November last year when production increased 2.7% EU statistics office Eurostat said.