Industrial Production (Oct 2019)......>

EUROZONE DATA: Industrial Production (Oct 2019) Preview - 1000GMT Dec 12

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- Bloomberg Consensus: -0.5% m/m, -2.4% y/y; Prev (Sep): 0.1% m/m, -1.7% y/y. 

- Following Sep's unexpected uptick, EZ IP is forecast to post another decline

in Oct.

- Mkts look for a m/m downtick by 0.5% while the y/y rate is projected to

deteriorate to -2.4%. 

- Output (ex-construction) fell m/m in 3 of the EZ's largest 4 economies in Oct:

Germany (-1.5%), Spain (-0.4%) and Italy (-0.3%), while French IP rose by 0.4%. 

- The EZ's manuf PMI rose slightly in Nov, but has been in contraction for ten

consecutive months. 

- Meanwhile, the European Commission's ESI rose slightly in Nov after falling

sharply in Oct. 

- Nevertheless, Germany remains the source of weakness in the EZ manuf sector. 

- Germany accounts for 36.7% of the EZ's industrial production and showed a

sharp decline in output as well as in orders in Oct.