The Eurozone industrial sector activity outperformed in May, the latest data published by Eurostat showed on Tuesday.
Industrial output in the old continent rose 1.7% month-over-month (MoM) in May, versus the expected 0.9% rebound and a 2.2% decline reported in April.
Annually, Eurozone Industrial Production jumped 3.7% in the same period, as against April’s 0.2%. Data surprised markets to the upside, with a 2.9% reading projected.
EUR/USD reaction to the Eurozone Industrial Production data
Eurozone industrial figures underpin the Euro, as EUR/USD nears 1.1700, up 0.21% on the day.
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