Eurozone Industrial Production fell by 0.7%
In November 2015 compared with October 2015, seasonally adjusted industrial production fell by 0.7% in the euro area (EA19) and by 0.6% in the EU28, according to estimates from Eurostat. Analysts were forecasting 0.2% decrease. In October 2015 industrial production rose by 0.8% and 0.6% respectively.
In November 2015 compared with November 2014, industrial production increased by 1.1% in the euro area and by 1.4% in the EU28. The decrease of 0.7% in industrial production in the euro area in November 2015, compared with October 2015, is due to production of energy falling by 4.3%, capital goods by 1.9% and durable consumer goods by 1.0%, while production of non-durable consumer goods rose by 0.1% and intermediate goods by 0.7%.
Euro is currently being traded around 1.0810 area. Pair is likely to find support around 1.08 handle and resistance above 1.0860 level. Later today, in the US session, Crude Oil Inventories figures are scheduled for a release.
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