EUROZONE DATA: Industrial.............>

EUROZONE DATA: EUROZONE DATA: Industrial Production (Aug 2019) Preview - 10:00

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- Bloomberg Consensus: 0.3% m/m, -2.5% y/y; Prev (Jul): -0.4% m/m, -2.0% y/y. 

- Markets are looking for EZ IP to pick up by 0.7pp to 0.3% m/m in Aug, while

the annual rate is forecast to deteriorate to the lowest level since Dec 2018. 

- Monthly output plummeted to a 37-month low in June and declined further in

July, although at a slower pace 

- Output (ex-construction) rose m/m in 3 of the 4 EZ's largest economies:

Germany (0.6%), Spain (0.9%) and Italy (0.3%), while French IP dropped to -0.9% 

- Fwd-looking survey indicators provide a gloomy outlook: 

- The EZ's manuf PMI slumped to 45.7 in Sep, its lowest level since Oct 2012. 

- Meanwhile, the European Commission's ESI reported the worst industrial

confidence figure since July 2013, which was the index's eight consecutive

negative reading. 

- The EZ's industrial sector looks set to remain troubled, unless unexpected

positive developments occur in the coming month.