Eurozone industrial production falls in June

By Dow Jones newswires

Economists expect the agency to record a second straight quarter of slowing growth, with gross domestic product having risen by just 0. 1 per cent from the three months to March.

Industrial production in the 18 countries that share the euro fell for a second straight month in June, an indication that the currency area's economic recovery may have faltered again in the second quarter.

The European Central Bank responded to weakening growth prospects and too-low inflation by announcing a package of measures on June 5 that included interest rate cuts and cheap, medium-term funding for banks that is intended to be passed on to businesses.

Instead, the first quarter marked a slowdown from the final three months of 2013, and hopes for a significant rebound in gross domestic product during the second quarter have faded with every data release.

Germany's Economics Ministry said Tuesday that the eurozone's largest economy had slowed in the second quarter in response to the uncertainty caused by the crises in Ukraine and the Middle East.

Read more here: Business Spectator

    

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