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EZ Industrial Production (Jul 2020) - Preview

EUROZONE DATA
MNI (London)

EZ IP: +4.0% m/m, -8.2% y/y; Prev (Jun): 9.1% m/m, -12.3% y/y

  • Monthly EZ IP is forecast to gain 4.0% in July after rising 9.1% in the previous month.
  • Production fell sharply in both March and April before rebounding in May and June, however, growth rates seen in the last two months were not sufficient to make up for the loses recorded during the pandemic.
  • Annual output was 12.3% below the level seen in June 2019 and markets expect the index to improve further to -8.2%.
  • State-level data is in line with market forecasts looking for a slowdown in growth.
  • German industrial production edged up 1.2% in July, while French output rose 3.8%, both recording levels below market forecasts.
  • Spanish and Italian monthly industrial production came in stronger than markets expected, increasing by 9.3% and 7.4%, respectively.
MNI London Bureau | +44 203-865-3814 | irene.prihoda@marketnews.com
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