Eurozone Industry Struggles to Emerge From Slowdown

Green shoots are showing in Europe’s manufacturing sector after a torrid year — but it is probably too early to call an end to the slowdown, the Financial Times reported. Industrial production expanded month on month in all five of the eurozone’s largest economies in May, a welcome relief given the gloom that has shrouded the bloc’s manufacturers in the past year. Economists polled by Reuters expect to see a 0.2 per cent month on month expansion of industrial production across the eurozone when May’s figures are published on Friday. That would be the best performance since January. However, the European Commission warned on Wednesday that the bloc’s economy faces a “host of negative risks”, citing manufacturing in particular for the “downgrade” in momentum. It forecasts growth of 1.2 per cent this year, which would be the worst performance since 2013. Read more