The data on the real economy in the euro area is disappointing and surprising. In fact, in March, according to data reported by Eurostat, industrial production in the Eurozone underwent a 0,3% drop compared to the previous month. On average, analysts were instead expecting a 0,7% increase. Looking at the whole European Union of 27, production in March fell by 0,4%. In comparison on an annual basis, production fell by 2,2 percent in the euro area and by 1,9 percent in the EU 27.
The strongest monthly declines were recorded in the Netherlands (-9%), Estonia (-3,4 per cent), Denmark (-2,8%) and Ireland (-2,7%). while the greatest increases were recorded in Slovenia (+6,3%), Slovakia (+3,5%) and Lithuania (+3,1%). In Italy, industrial production increased by 0,5 percent from the previous month while it decreased by 5,8 percent on an annual basis.
