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

EUROZONE DATA: Industrial Production (Mar 2020) - Preview 

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- EZ IP: -12.1% m/m, -12.4% y/y; -0.1% m/m, -1.9% y/y 

- IP rebounded in Jan, rising by 2.3% on m/m basis before falling 0.1% in Feb. 

- In March, the index is expected to plummet by 12.1% on coronavirus crisis. 

- Already available state level data are in line with market forecasts: 

- Ex-construction, Germany's industrial sector shrank by 11.2%, while France's

output slumped 16.2%. 

- Spain saw a 11.9% contraction and Italy's IP collapsed by 28.4%. 

- Survey evidence in April suggest a bleak outlook, with the PMIs slumping to

record lows in manufacturing as well as services. 

- Most countries remained in lockdown throughout Apr, suggesting that another

sharp decline in industrial production going forward.