Industrial Production (Nov 2019)........>

GERMAN DATA: Industrial Production (Nov 2019) Preview - 0700 BST

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- Bloomberg Consensus: 0.8% m/m, -3.7% y/y; Prev (Oct): -1.7% m/m, -5.3% y/y 

- After Oct's slump to -1.7%, German IP is forecast to rebound in Nov with

markets pencilling in an uptick to 0.8% m/m. 

- However, y/y production is expected to post another decline in Nov, although

at a slower pace of 3.7%. 

- Fwd-looking indicators pose a downside risk:

- Recently released German industrial orders slumped to -1.3% in Dec, while the

country's manuf PMI fell to 43.7 in Dec after Nov's five-month high of 44.1 

- The European Commission's ESI reported industrial sentiment falling in Dec to

-16.5, while the Ifo index for the industrial sector picked up slightly.

- Firms continue to face an uncertain environment:

- Although US/China trade tensions eased, a final deal has not been reached yet.

- The situation is similar with Brexit where an exit deal with the EU has been

agreed but the actual details of a future trade agreement must be determined.