https://www.cmegroup.com/content/dam/cmegroup/images/common/default/article-940x600.jpg
IT: Industrial Production
| Consensus | Consensus Range | Actual | Previous | |
| Month over Month | 0.3% | 0.3% to 0.5% | -1.0% | -0.3% |
| Year over Year | -0.6% | 1.1% |
Highlights
Industrial production unexpectedly declined in June, falling 1.0 percent from May on a seasonally basis while output fell 0.6 percent from a year ago. Economists expected a 0.3 percent month-on-month gain in production, according to the median forecast in an Econoday survey.
Year-on-year gains of 4.5 percent for computers and electronic parts and a 3.2 percent drop in transportation equipment couldn’t offset a 7.1 percent decline in textile manufacturing, and the 3.6 percent decline in “other” manufacturing.
Other European economies have also seen increased production for computers and electronics, which could be the underpinning of a broader positive trend.
Market Consensus Before Announcement
The consensus sees output up 0.3 percent on the month in June to recover the 0.3 percent drop in May.