Industrial Production (Sep 2019)........>

GERMAN DATA: Industrial Production (Sep 2019) Preview - 0700 BST 7/11/19

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- Bloomberg Consensus: -0.4% m/m, -4.4% y/y; Prev (Aug): +0.3% m/m, -4.0% y/y 

- IP is forecast to fall by 0.4%, which would leave the quarterly rate at -1.0%

after Q2's slump to -1.8% 

- The y/y rate is expected to deteriorate further to a three-month low of -4.4%.

- Fwd-looking Indicators In Line With Expectations: 

- Germany's manuf PMI slumped to a 123-month low in Sep before picking-up

slightly in Oct, while industrial confidence plummeted to a 75-month low

according to the European Commission's ESI survey results. 

- Nevertheless, recently released data on German industrial orders provided a

ray of hope, rising by 1.3% m/m. 

- Uncertainties such as trade tensions and Brexit are all too familiar, but

continue to weigh on business activity and sentiment. 

- To see improvements in the coming months, trade tensions and political risks

need to ease and monetary and fiscal stimulus need to materialize.