Production in the euro area industry continued to increase in July, after an upturn in May and June. Further relaxation of quarantine measures against the COVID-19 gave industry a boost. According to the European statistical office Eurostat, production increased by 4.1% compared to June.
Economists had counted on an average plus of 4.2 percent. In June, production in the euro area was still up by 9.5%. Moreover, production was still much lower than in July 2019, with a fall of 7.7% on an annual basis.
For the European Union as a whole, production increased by 4.1% on a monthly basis in July.