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Worse than expected for Europe’s industries

by AI | 14.Aug 2024 | Europe in brief AI

The industry in the eurozone is performing worse than expected. The recovery of the Swedish industry is also slowing down.

Gas pipelines at Thyssenkrupp Steel Europe in Duisburg, Germany. Photo: Ina FASSBENDER / AFP

Stockholm – It is going worse than expected for the industry in the eurozone.

New figures from Eurostat show that industrial production fell by 3.9 percent in June compared to the previous year. Analysts had anticipated a decrease of 2.9 percent, according to a compilation by the news agency Bloomberg.

Compared to May, industrial production decreased by 0.1 percent. Here, analysts had instead anticipated an increase of 0.5 percent.

Even the recovery of the Swedish industry is slowing down. The Purchasing Managers’ Index for the manufacturing industry fell to 49.2 in July, according to the monthly measurement made by Swedbank and the purchasing managers’ organization Silf, which was published on August 1.

(August 14)