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Industrial Production (Apr 2020) -....>

EUROZONE DATA
MNI (London)
EUROZONE DATA: Industrial Production (Apr 2020) - Preview
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- EZ IP: -20.0% m/m, -29.5% y/y; -11.3% m/m, -12.9% y/y 
- EZ IP was already trending down in 2018 and 2019 before it collapsed in Mar
due to the Covid-19 crisis. 
- Output fell by 11.3% m/m and markets project another fall to -20.0% in Apr,
while y/y production is seen at -29.5%. 
- Already available state-level data is in line with market forecasts: 
- German IP collapsed by almost 18%, while Spanish output plunged by 21.8% and
France's industrial sector contracted by 20.1% in Apr. 
- The EZ mfg PMI rebounded in May, rising by 5.9pt, but new orders and output
still fell sharply. 
- The European Commission's ESI ticked up after collapsing in Apr. 
- Most European countries gradually opened up in May, hence EZ IP is likely to
improve in the coming months, although at slow pace. 
MNI London Bureau | +44 203-865-3812 | les.commons@marketnews.com
MNI London Bureau | +44 203-865-3812 | les.commons@marketnews.com

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