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MNI: GERMAN DATA: Industrial Production (Feb 2019)...>

MNI: GERMAN DATA: Industrial Production (Feb 2019) Preview - 07:00 BST
- Bloomberg Consensus: 0.5% m/m, -1.4% y/y; MNI Median: 0.5% m/m, -1.5% y/y
- Previous (Jan): -0.8% m/m, -3.3% y/y
- Markets look for a small rebound after a disappointing start to the year
- Jan saw a 2.5% slump in capital goods output drive production down 0.8% m/m...
- ...reversing a brief recovery in Dec which followed three successive declines
- Regression analysis by the MNI Data Team suggests markets may be in for a
negative surprise...
-...based on the relationship between industrial orders and production, our
model suggests a further output decline in Feb
- Forward looking indicators paint a downbeat picture of the outlook...
- ...factory orders saw the sharpest monthly contraction in Feb since Jan 17...
- ... while the manufacturing PMI fell to an 80-month low in March
- Strong construction sector sentiment and activity remains a ray of hope likely
limiting extent of further IP declines

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