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EUFN - Upturn In Official Eurozone Manufacturing Data Likely Represents False Dawn
iShares MSCI Europe Financial Sector Index Fund
Industrial production in the eurozone rose sharply in May, but survey data indicate that the improvement will be short-lived.
Official Eurostat data showed industrial production surging 0.9% in May, rebounding after declines in the prior two months. The narrower definition of manufacturing output showed a similar 0.9% rise, likewise recovering from falls in March and April.
The better data raise the question of whether the region is now set for a strengthening of production growth, or whether the May improvement represents a false dawn. Given the recent ongoing weakness of the PMI survey data for