European industrial production is growing again after two months of decline, but Italy is lagging behind. According to data released by Eurostat, in July the production of industry in the currency union increased by 1% compared to the previous month and by 2,2% on an annual basis. Exceeded the expectations of analysts, who had forecast a monthly growth of 0,7%.
Within the area, however, different trends were recorded between the various countries: production rose in Germany (+1,9%) and in France (+0,2%), while it remained unchanged in Spain. Italy did badly, recording a drop of 1,0%, the worst result among the major European economies after that of Greece.
There are also timid signs of improvement on the labor market: in the second quarter the total number of employed people in the Eurozone increased by 0,2% compared to the first quarter and by 0,4% on an annual basis.
