Euro area industrial production tumbles - ANZ

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Jan 14, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
    Likes Received:
    FXStreet (Delhi) – Research Team at ANZ, notes that as flagged by last week's German and French reports, last night's euro area industrial production release for November was much weaker than expected.

    Key Quotes

    “IP fell by 0.7% m/m (-0.3% m/m expected), reversing the 0.8% m/m rise in October. The decline was largely driven by a sharp 4.3% m/m drop in energy production – a similar story to what we saw in yesterday's UK numbers. Recall that oil prices fell around 10% in November, and the warmer-than-seasonal weather restrained demand for energy. Durable goods production was also poor, falling 1.9% m/m. Given the well-watched trend of weak activity in global manufacturing production, these data have had little market impact.”
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