Eurozone July industrial production -2.3% vs -1.0% m/m expected

• Prior +0.7%
• Industrial production -2.4% vs +0.4% y/y expected
• Prior +2.4%

That's a big miss on estimates as euro area industrial output slumped heavily in July. Looking at the details, production of capital goods fell by 4.2%, durable consumer goods by 1.6% and intermediate goods by 0.8%, while production of energy rose by 0.4% and nondurable consumer goods by 1.2%.