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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.
GERMAN DATA
MNI (London)
GERMANY NOV INDUSTRIAL PROD +0.2% M/M (FCST +0.3%); OCT -0.4%r M/M
GERMANY NOV INDUSTRIAL PROD -0.4% Y/Y (FCST +0.1%); OCT -0.2%r Y/Y
November German Industrial production saw a modest +0.2% m/m rebound from the downwardly revises -0.4% m/m contraction recorded in October. Production levels remained -0.4% below November 2021 levels.
- A dip in construction production is in part generating a weaker headline figure. Excluding energy and construction, German IP expanded by +0.5% m/m.
- Within industry, immediate goods and capital goods production rose (+1.1% and +0.7%), whilst consumer goods declined (-1.5%) as demand softens.
- This data follows Friday’s factory orders, which dived -5.3% m/m in November. The collapse in demand was largely driven by foreign orders, which will likely feed through into weaker year-end production levels.
- Eurozone industrial production is due on Friday and expected to be expansive following the October contraction. Note that Irish data due at 1100 GMT will likely again distort the aggregate data, due to recently high volatility related to transfer pricing by multinational corporations.
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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