Eurozone Industrial Production showed a bigger-than-expected drop in July, the official data showed on Wednesday, suggesting that the manufacturing sector is losing its recovery momentum.

Eurozone’s Industrial Output fell 1.1% MoM, the Eurostats said in its latest release, vs. -0.7% expected and a 0.4% increase reported in June.

The bloc’s annual Industrial Production declined 2.2% in July, compared with a 1.1% decrease in June and expectations of a 0.3% drop.

EUR/USD reaction

The shared currency is unfazed by the below-forecast German industrial figures. At the time of writing, EUR/USD is trading at around 1.0735, down 0.14% on the day.