Forex Pros – Industrial production in the euro zone rose unexpectedly in April, official data showed on Wednesday.
In a report, Eurostat, the European statistics agency said industrial production rose by a seasonally adjusted 0.2% in April, after holding flat in March, whose figure was revised from a decline of 0.2%.
Analysts had expected industrial production in the euro zone to fall by 0.2%.
Year-on-year, industrial production rose at an annualized rate of 5.2% in April, after climbing at a rate of 5.8% in March and beating expectations for 4.8% gain.
Following the release of the data, the euro was down against the U.S. dollar, with EUR/USD dropping 0.75% to trade at 1.4333.
Meanwhile, European stock markets were broadly lower. The EURO STOXX 50 slumped 0.6%, France’s CAC 40 shed 0.5%, Germany’s DAX declined 0.5%, while the FTSE 100 was down 0.35%.
ForexPros.com
