Industrial production rose surprisingly, in the euro zone in May

Contrary to expectations, industrial production increased in the euro zone in May – show the datas of the European Union's statistics office released on Thursday.

In May industrial production was  0.6 percent higher than in April, while analysts expected a 0.2 percent drop.

On an annual comparision, output increased by 2.8 percent – the highest level since December 2009. On annual basis, analysts forecast a 3.7 percent shrinkage.

Industrial production is 19 percent of the GDP in the euro area, while the ratio of domestic consumption is 40 percent, so the industrial production of May will have only a little effect on economic growth. (MTI)