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Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
EUROZONE DATA
MNI (London)
EUROZONE FEB INDUST PROD +1.5% M/M (FCST +1.0%); JAN +1.0%r M/M
EUROZONE FEB INDUST PROD +2.0% Y/Y (FCST +1.9%); JAN +0.9% Y/Y
- Eurozone industrial production was slightly stronger than anticipated in February, expanding by +1.5% m/m and +2.0% y/y in a second consecutive month of growth.
- Today's data follows surprisingly robust German, French and Spanish February IP prints, whilst Italy recorded a contraction.
- Volatile Irish data (which is exposed to shifts in multinationals' pricing) represented a largely negligible distortion on the m/m aggregate print in February as opposed to previous months.
- IP growth was positive on the month across goods categories, strongest in capital goods (+2.2%) whilst lagging in consumer durables (+0.2%).
- Looking forward, the euro area March manufacturing output PMI increased to a 10-month high, boosted by improving supply chains.
- Yet PMI data continues to flag a trend of shrinking order books and running down backlogs, implying that outstanding business is bolstering current production levels. With demand outlooks subdued, production levels may slow in coming months.
Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
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