European shares slip as German data disappoints

* German DAX falls as industrial output disappoints

* U.S. jobs data expected to show healthy hiring increases

* Monte Paschi posts second consecutive quarter of profit

* Europe bourses in 2015: http://link.reuters.com/pap87v

* Asset performance in 2015: http://link.reuters.com/gap87v

By Alistair Smout

LONDON, Aug 7 (Reuters) - European shares fell on Friday, weighed down by Germany's top share index after a surprising fall in industrial output, ahead of closely watched U.S. jobs data due later in the session.

Germany's DAX fell 0.2 percent. The DAX is some 7 percent below a record high reached in April, although it remains up nearly 20 percent since the start of 2015.

German industrial output declined and exports fell by more than expected, raising questions about the strength of the recovery in Europe's largest economy.

"The numbers are disappointing, but the European economic recovery hasn't been a nice steady trend. We've sometimes seen these figures spike lower, but it's not enough to start pressing panic buttons," Alastair McCaig, market analyst at IG (LSE: IGG.L - news) , said.

The pan-European FTSEurofirst 300 index also fell 0.3 percent.

The euro zone's Euro STOXX 50 index slipped 0.4 percent but Greek stocks edged back up for the second day in a row after steep losses earlier in the week caused by persistent concerns about Greece's debt problems.

Better data was expected from the United States.

The number of U.S. jobs probably rose at a healthy pace in July and wages likely rebounded in data due later in the day, providing further signs of an improving economy that could allow the Federal Reserve to raise interest rates in September.

Belgian postal operator bpost sank 8.4 percent to be the top STOXX Europe 600 faller, and was set for its worst day after second quarter earnings missed forecasts and it said it expected its classic mail business to decline by more than previously expected.

Finnish tyre maker Nokian Tyres (Other OTC: NKRKF - news) also dropped 2.5 percent after a cut to its full-year profit forecast, while a fall in U.S. media stocks also hit their European peers on Friday.

Earnings season has generally been encouraging, however. Of STOXX Europe 600 to have reported results, 57 percent have beaten or met profit expectations, with 66 percent of companies achieving or exceeding revenue estimates.

Banca Monte dei Paschi (Milan: BMPS.MI - news) di Siena rose 8.8 percent after it reported a second consecutive quarter of profit, as it continued a recovery after being hit hard by the euro zone debt crisis and a scandal over loss-making derivative trades.

Today's European research round-up (Additional reporting by Sudip Kar-Gupta; Editing by Alison Williams)