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LONDON (MNI) - At 0700BST and 0800BST, respectively, data on industrial
production will be released for Germany and Spain. At 1330BST all eyes are on
the US for the publication of Nonfarm Payroll data.
German industrial production declined in January by 0.8% m/m and 3.3% y/y.
According to the MNI median production is expected to recover slightly and grow
by 0.5% m/m in February, thus climbing above the long-term average of 0.1%. On a
yearly basis the indicator is anticipated to decline by 1.5%.
Spanish industrial production increased 2.4% y/y in January after a sharp
decline in November and December 2018.
Nonfarm payrolls are forecast to rise by 170,000 in March after a much
weaker-than-expected 20,000 rise in February. The unemployment rate is expected
to stay at 3.8%. Hourly earnings are forecast to rise by 0.3%, while the average
workweek is expected to rebound slightly to 34.5 hours after falling to 34.4
hours in February.
December and January payrolls were much stronger than expected, but
February payrolls severely disappointed. There has been a tendency for payrolls
levels to be revised up from their first estimates over the last year, so the
headline figure could get a boost from an upward revision to the February
ECB's Draghi, Enria, Coeure and de Guindos participate in meetings in
Bucharest on Friday and Atlanta Fed's Bostic participates in a discussion
--MNI London Bureau; tel: +44 203-586-2225; email: email@example.com