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Eurozone industry shows signs of slowing amid euro's rise

Stronger increases in Estonia and Croatia

14 August, 11:52
(ANSA) - BRUSSELS - Official figures show that industrial output across the 19 countries that make up the eurozone fell in June, a development that will likely reinforce concerns about the export-sapping impact of the rising euro.

Eurostat said Monday - AP reports - that output declined by 0.6 percent during the month, giving up half the previous month's gain.

The fall, the first since February, was in line with predictions in financial markets, with many economists warning about the implications of the euro's 10 percent rise against the dollar this year.

Despite the June fall, industrial production was still a healthy 2.6 percent higher compared with a year earlier, though down on May's 3.9 percent annual rate. The strongest increases, as compared to May, were in Luxembourg (+3.4 pc); Estonia, Croatia and the Netherlands (+1.2 pc each). Production has fallen more, on a monthly basis, in Ireland (-7.5 pc); Czech Republic (-3.8 pc) and Malta (-3.2pc). (ANSA).

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