© Reuters. FILE PHOTO: Welding robots are seen in a production line at the Volkswagen plant in Emden

BRUSSELS (Reuters) – Industrial production in the 19 countries sharing the euro fell by more than expected in April, data showed on Wednesday, providing further evidence that the bloc’s economy is slowing before a European Central Bank meeting.

The weak industrial output numbers add to a string of data signaling the euro zone economy is slowing. It also highlights the conundrum facing the ECB on how to exit its large bond- buying program, known as quantitative easing (QE).

Ending the purchases is a given. The key question at the ECB’s Thursday meeting is how it will guide markets on the expected path of interest rates.

“The uncertainty about the eurozone’s economic performance ahead of QE decision time makes tomorrow’s ECB meeting a nail-biter”, economists at ING wrote in a note to clients.

Factory output decreased by 0.9 percent in the euro zone in April from March, European statistics office Eurostat said on Wednesday. Production of energy, durable and non-durable goods as well as intermediate goods fell in the month. Analysts polled by Reuters had on average expected a decline of 0.5 percent.

Only the production of capital goods, such as machinery, rose in April.

In other recently published data, retail sales were lower in April. Forward-looking indicators such as economic sentiment also showed a decline last month.

In a separate release, euro zone employment increased by 0.4 percent in the first quarter compared with the final quarter of 2017.

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.

Source link

If you are looking to make money from running your own business at home, visit the links below.

Computers and Software Buyers Guide

Compare Computers and Laptops

Mobile Phones Buyers Guide

Compare Mobile Phones