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MNI: EUROZONE DATA: Industrial Production (Feb.......>

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MNI: EUROZONE DATA: Industrial Production (Feb 2019) Review
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- EZ IP -0.2% m/m, -0.3% y/y in Feb, better than the -0.5% m/m, -0.9% y/y
consensus 
- Jan's m/m print was revised from 1.4% to 1.9%, the strongest gain since Nov 17
- Feb's m/m decline reflected broad-based weakness but was led by energy (-3.0%)
- Output of durable consumer goods (-0.4%), capital goods (-0.4%) & intermediate
goods (-0.1%) also fell... 
- ... while non-durable consumer goods was the only major category to see a rise
in monthly output (+0.9%) 
- Among EZ states, Lithuania (-4.7%) & Greece (-2.7%) saw the largest IP
declines, while Latvia (+0.9%) & Italy (+0.8%) recorded the strongest gains 
- The latest data add to hopes that the EZ industrial recession is bottoming
out, but forward-looking indicators suggest further weakness is on the cards... 
- ... Indeed, the EZ Manufacturing PMI stood at 47.5 in Mar - signalling the
greatest contraction of activity in the sector for nearly six years

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