Industry grows in the Eurozone despite slump

 
Ben Southwood
Follow Ben
ZONE

ZONE industrial production climbed in July, data from Eurostat showed yesterday, despite the ongoing debt crisis and economic slump in the single currency area.

Eurozone industry produced 0.6 per cent more than in June, while the EU as a whole saw 1.1 per cent growth – both represented recoveries from small declines in June.

But compared to July last year, industry was flagging – factory output is down 2.3 per cent in the euro area and 1.5 per cent when counting all 27 EU member states.