Eurozone hit by weak output in June

A bigger-than-expected drop in eurozone industrial output in June suggests that gross domestic product growth data, due out tomorrow, might also disappoint.

Industrial production in the 19-member-state bloc fell 0.4% month-on-month in June, still 1.2% higher year-on-year, the EU’s statistics office Eurostat said yesterday, but below analysts’ expectations for a 0.2% fall.

The agency upwardly revised its reading for May to a 0.2% decline from previous forecasts for a 0.4% fall.