European industrial production was flat in June, beating a forecast −0.1% contraction, but the ECB has stayed silent since its July 23 hold at 2.25%. The structural drags from Chinese demand, the EV transition, and US tariffs haven't gone anywhere.
Capital and intermediate goods fell 1.4% and 0.8% in June even as euro-area industrial production held flat at 0.0%, beating the -0.1% forecast on strength in non-durables and energy. Source
