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Reporting on key macro data at the time of release.
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- Nov SA industrial output declined by 1.4% m/m (Oct revised higher to +1.4% m/m), while the annual output fell by -4.2% y/y WDA
- Nov's reading is below market expectations looking for a flat reading
- Nov SA m/m intermediate goods rose, while consumer, capital and energy goods decreased—ISTAT
- Nov WDA y/y consumer, capital, intermediate goods and energy all declined--ISTAT
- There were 21 working days in Nov 2020 vs. 20 in Nov 2019.