Germany's industrial slump dragged down all of Europe in June

Angela Merkel glassesGerman Chancellor Angela Merkel wears special glasses as she visits a metal workshop in Berlin September 5, 2008.REUTERS/Hannibal Hanschke

The latest eurozone industrial production figures have just been released for June, and they're disappointing.

Production fell 0.2% from May and rose by just 1.2% from June last year.

Analysts were expecting a decline of 0.2% on the month, which would have left production 1.5% higher than it was a year ago.

We've already seen the German industrial production figure, and it wasn't pretty. Analysts had expected a 0.4% rise from May, which actually turned out as a 1.4% slump. That leaves German industrial production up by a meagre 0.6% year-on-year.

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