Euro zone industrial production rose as expected on a monthly basis in July thanks to stronger output of capital goods and durable consumer good.

But production was still well below last year's levels because of the Covid-19 pandemic, data showed today. 

The European Union's statistics office Eurostat said industrial production in the 19 countries sharing the euro rose 4.1% month-on-month for a 7.7% year-on-year fall. 

Economists polled by Reuters had expected a 4% monthly rise and a 8.2%annual drop. 

Production of investment goods rose 5.3% on the month and was up 4.7% for durable consumer goods.

But both were still well below last year's levels at -10.4% and -3.8% respectively as the euro zone economy struggles with effects of lower economic activity caused by the Covid-19 pandemic.