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

MNI (London)
EUROZONE DATA: Industrial Production (Oct 2019) Preview - 1000GMT Dec 12
- 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. 
MNI London Bureau | +44 203-865-3812 |
MNI London Bureau | +44 203-865-3812 |

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