• Industrial production releases for May have been disappointing with Germany and France both seeing M/M falls in excess of 2% (while Portugal saw a -3.2%M/M print yesterday). Spain was an outlier - still marginally below consensus expectations but only falling 0.1%M/M.
  • In France 4/5 of the manufacturing subcomponents fell (with falls pretty broad based) while in Germany, Destatis point to "significant declines" in the automotive industry and mechanical engineering. In Germany, capital goods fell 4.0%M/M, intermediate goods 2.7% and consumer goods 0.2%. Manufacturing production in Spain, in contrast, rose 0.8%M/M.
  • However, energy production rose 2.6%M/M in Germany, 1.6%M/M in France and 1.4%M/M in Spain.

EUROZONE DATA: Weak manufacturing in France and Germany in May; energy production up

Last updated at:Jul-05 07:55
  • Industrial production releases for May have been disappointing with Germany and France both seeing M/M falls in excess of 2% (while Portugal saw a -3.2%M/M print yesterday). Spain was an outlier - still marginally below consensus expectations but only falling 0.1%M/M.
  • In France 4/5 of the manufacturing subcomponents fell (with falls pretty broad based) while in Germany, Destatis point to "significant declines" in the automotive industry and mechanical engineering. In Germany, capital goods fell 4.0%M/M, intermediate goods 2.7% and consumer goods 0.2%. Manufacturing production in Spain, in contrast, rose 0.8%M/M.
  • However, energy production rose 2.6%M/M in Germany, 1.6%M/M in France and 1.4%M/M in Spain.

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