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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 MAY IP +0.8% M/M, +1.6% Y/Y (FCST +0.3%); APR -2.5%r Y/Y
- Industrial production saw an optimistic rebound in the Eurozone May print, expanding at 1.6% y/y, following the downwards revised -2.5% y/y contraction recorded in April. This is a significant beat of the modest +0.3% m/m and y/y improvement anticipated.
- Non-durable consumer goods production increased 2.7% m/m, followed by capital goods by 2.5% m/m and durables by 1.4% m/m.
- Energy production accounted for the key downwards driver, falling 3.3% m/m in May.
- The May upswing is largely a recalibration following the shock of the onset of the Ukraine war, as supply chains required considerable adjustment following sanctions on Russian trade. The outlook for upcoming months looks less optimistic when taking into account the drop-off in new orders recorded in recent manufacturing PMIs.
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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