- Martin Van Vliet, Economist at ING Bank
Industrial production in the Euro bloc recorded 0.6% growth from April to May, Eurostat said on Thursday. The industrial output soared 1.5% in Germany, while Italy and Spain reported 0.8% and 0.9% growth rates, respectively. On the contrary, France faced a 2.1% drop.
"The bounce in Eurozone industrial production in May does little to change the view of a contraction in the overall economy in the second quarter," said Martin Van Vliet, Economist at ING Bank.
"With the fiscal squeeze in the euro zone unlikely to ease soon and the debt crisis still unresolved, any recovery in euro-zone industrial activity later this year will likely be modest."
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