Eurozone: Strong aggregate rise in industrial output - BBH

Analysts at BBH point out that the Eurozone reported a strong aggregate rise in industrial output in May as the four largest economies had already reported national figures, so what appears to be an overshoot may be less than meets the eye.  

Key Quotes

“It rose 1.3% on the month and the April rise was shaved to 0.3% from 0.5%.  Nevertheless, the year-over-year pace rose to 4.0% from a revised 1.2%, which is the fastest since 2011.  The ECB meets next week.  We expect a small tweak in the forward guidance to remove the risk that asset purchases can be increased if necessary.”