SPEU - Eurozone Factories Report Slower Progress In Climb Out Of Lockdowns
The eurozone's manufacturing upturn is showing signs of losing momentum after the initial rebound from COVID-19 lockdowns, with rising infection rates posing a further threat to recovery prospects in coming months. With factory output still almost 8% lower than its pre-pandemic peak, a full recovery of output still looks some way off for the region as a whole.
Climb out of lockdown slows
Eurozone manufacturing output rose 4.7% m/m in July, according to the latest official statistics from Eurostat, building on prior expansions seen in both May and June. The recent gains have pushed output