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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 APR INDUSTRIAL PROD +1.0% M/M (FCST +0.9%); MAR -3.8% M/M
EUROZONE APR INDUSTRIAL PROD +0.2% Y/Y (FCST +0.7%); MAR -1.4% Y/Y
- Eurozone industrial production expanded by +1.0% m/m in April, marginally stronger than expected and rebounding from the -3.8% m/m March fall. Compared to last year, April production rose a modest +0.2%.
- April data saw contractions across Italy (-1.9% m/m) and the Netherlands (-3.5% m/m), whilst German production was revised down to flat (vs +0.3% m/m provisional). Of the major EZ economies, only France recorded an uptick (+0.8% m/m), boosted by less industrial action.
- The giant +21.5% m/m jump in volatile Irish data (following a -27.0% March plunge) will have partly accounted for the stronger headline April print, masking more stagnant outlooks.
- Capital goods grew +14.7% m/m, energy by +1.0%, whilst intermediates fell -1.0%, durables by -2.6% and non-durables by -3.0% m/m in April.
- The strong capital goods growth is also overstated due to Irish data volatility, after Irish Chemical, Pharmaceutical and Computer & Electronic sectors recorded +81.3% m/m growth.
- Cooling energy prices and further easing in supply chains is supporting current production, however the persistent decline in demand is a key concern. This has been flagged by PMI data, which plunged to a three-year low in May, implying growth outlooks appear muted at best.
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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