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Industrial output falls

Eurozone industrial production contracted unexpectedly in June, hurting hopes for a stronger recovery as the region feels the effect of conflict in Ukraine, Iraq and Gaza.

Factory output fell 0.3pc in June after a 1.1pc drop in May, data showed yesterday.

A recovery by the €9.6 trillion economy is struggling to gain momentum. High unemployment, sluggish reforms and international crises are holding it back. It will heap further pressure on the European Central Bank and President Mario Draghi (right) to act.