fell 11.7% in July, slumping after the prior month’s revised 7.6% gain.
June’s hefty jump was helped by sharp gains in the aerospace sector, and excluding these large orders, overall monthly activity would have declined by 2.6%. With July’s drop, the overall picture in the industrial sector of the largest economy in the eurozone remains very weak. Manufacturing data from Germany, Britain and the euro area also showed declines on Tuesday, while their service sectors fell into contraction.expanded at the slowest pace in eight months in August.are expected to have weakened in July, showing that consumers in the region remain under pressure as inflation remains elevated.
Data due for release later in the session are expected to show that retail sales fell 0.1% on the month in July, a drop of 1.2% on an annual basis.meets next week, and a run of soft eurozone data has raised the likelihood that the bank’s officials will agree to a pause in the rate-hiking cycle.
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