Industrial Production (Aug 2019) .....>

EUROZONE DATA: Industrial Production (Aug 2019) 

------------------------------------------------------------------ 

- EZ IP: 0.4% m/m, -2.8% y/y (vs. Bbg consensus 0.3% m/m, -2.5% y/y) 

- Monthly EZ industrial production rebound in Aug and rose by more than markets

expected, reaching a three months high. 

- Annual production, on the other hand deteriorated further, reaching the lowest

level since Dec 2018 

- While capital goods (1.2%) and intermediate goods (0.3%) were the only

categories revealing a positive rate, energy (-0.4%), durable consumer (-0.4%)

and non-durable consumer (-0.3%) goods saw m/m declines. 

- Among the member states, Malta (5.6%), Estonia (3.9%) and Latvia (3.0%) posted

the largest monthly gains. 

- Against that, Slovakia (-2.6%), Lithuania (-2.4%) and Slovenia (-2.0%)

recorded the biggest monthly declines. 

- Fwd-looking indicators paint a downbeat picture going forward, hence Aug's

rebound might not mark the start of a turnaround.