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Industrial Production (Jul 2019)......>

EUROZONE DATA
MNI (London)
EUROZONE DATA: Industrial Production (Jul 2019) Preview - 12/9/19 10:00 BST 
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- Bloomberg Consensus: -0.1% m/m, -1.3% y/y; Prev (Jun): -1.6% m/m, -2.6% y/y.
- EZ IP is forecast to decline in July, although at a slower pace than in June.
- Mkts look for a 0.1% drop m/m, while y/y output is forecast to fall by 1.3%. 
- Production slumped in June with capital goods seeing the largest fall,
indicating a weakness in investment spending. 
- Output (ex-construction) fell m/m in 3 of the 4largest economies in the EZ:
Germany (-0.8%); Italy (-0.7%); and Spain (-0.4%). France rose 0.3% by
comparison. 
- EZ manufacturing PMI rose slightly in Aug, although in contraction since Jan. 
- Meanwhile, the EZ Economic Sentiment Indicator ticked up in Aug, but
confidence in the industrial sector remains weak, despite the small rise. 
- Global uncertainties remain unsolved and continue to weigh on activity and
sentiment, hence a turnaround in the EZ economy appears to be some way off,
increasing the urgency for further policy stimulus from the ECB.
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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