The Euro-area Industrial Production fell in April by 0.8 per cent, a higher decrease than the revised decline of 0.1 per cent in March. However the decrease in April was lower than it was anticipated by economists. The Industrial Production compared to the previous year’s April fell by 2.3 per cent, a lower decrease than the projected 2.7 per cent drop, but greater than the revised previous month's decline of 1.5 per cent.
The latest data on industrial production are coming to confirm that the euro-zone's economy is sinking into a deeper recession, as unemployment is increasing, consumer confidence is worsening and uncertainty for southern member-countries is growing. Lastly, the single currency has been trading in a range formation the last two days between resistance at 1.2548 and support at 1.2449.