Industrial production gives EZ a break –weak inflation still poses concern

Figures were better than expected and add to other data such as retail sales, which in April experienced their fastest year-to-year increase since March 2007.

However, there is still a long way to go for the crisis-battered Old Continent. BCE’s analysts lowered their growth forecasts to 1% from 1.2% this year. Inflation also slowed more than expected in May ( that is, below the European Central Bank’s target of below, but close to 2% for the 16th consecutive month).

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