Jessica Hinds, an economists at Capital Economics, estimated that eurozone industrial production dropped 0.3% in the second quarter from the first, its weakest quarter since the end of 2012.
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In June this year, seasonally-adjusted industrial production decreased by 0.4 percent in the euro area and by 0.2 percent in the EU-28, as compared with May, while industrial production in May had decreased by 0.4 percent in the euro area and was down by 0.3 percent in the EU-28, both on month-on-month basis.
The pan-European Stoxx 600 index wobbled at the open before trading 0.5 percent higher Friday.
German statistical office Destatis said, in a note published on Friday, that exports were holding firm, but the lower value of the euro meant that exports were bringing in less revenue. Subtracting a negative inflation rate from nominal GDP numbers creates the appearance of positive growth which is not necessarily indicative of the economy’s true performance.
Of those included, Latvia enjoyed the strongest quarterly growth at 1.2%, while Denmark had the best year-on-year improvement at 4.4%.
During the second quarter of 2015, GDP in the United States increased by 0.6% compared with the previous quarter (after +0.2% in the first quarter of 2015).
Stocks in Athens were trading 0.5 percent lower after reports from Reuters that left-wing Prime Minister Alexis Tsipras will seek a vote of confidence from the parliament after August 20.
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Investors in Europe are also watching Asia for signs whether the Chinese central bank is continuing to intervene to halt the decline in the yuan.
