Technicals

FXstreet.com (Barcelona) - Industrial production has posted a considerable monthly decline in May, the largest fall since 1992, and the decrease has bees widespread among sectors, according to figures released by Eurostat.

In May, Euro Area's industrial production has declined 1.9% from April, while in the last 12 months production posted a 0.6% decline. April's figures have been revised up to a 1.0% increase on the month, and a 4.0% yearly rise, initially estimated 0.9% and 3.9% respectively.

May's decrease in production has been felt in most productive sectors, thus, production of non durable goods fell 1.2% on the month and 3.2% on year, intermediate gods dropped 1.4% and 0.6% respectively, and production of durable goods declined 3.3% on the month, and 5.2%on the year. Energy fell 2.7% on the month, and 1.2% on the year. Capital goods declined 2.4% month on month although it rose 2.2% from May 2007.