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Eurozone Industrial Production increased more than expected

Monday, Mar 14 2016
In January 2016 compared with December 2015, seasonally adjusted industrial production rose by 2.1% in the euro area (EA19), beating forecasts on 1.7% incline, and by 1.7% in the EU28, according to estimates from Eurostat, the statistical office of the European Union. In December 2015 industrial production fell by 0.5% in the euro area and by 0.6 in the EU28. In January 2016 compared with January 2015, industrial production increased by 2.8% in the euro area and by 2.5% in the EU28. 
The increase of 2.1% in industrial production in the euro area in January 2016, compared with December 2015, is due to production of capital goods rising by 3.9%, energy and non-durable consumer goods both by 2.4%, durable consumer goods by 1.3% and intermediate goods by 0.9%. In the EU28, the increase of 1.7% is due to production of capital goods rising by 3.3%, energy by 2.0%, non-durable consumer goods by 1.5%, and intermediate goods and durable consumer goods both by 1.0%.
 
Euro is currently being traded few points above 1.1120 level. Pair is likely to find support around 1.1050 handle and resistance above 1.12 level. There will be no major data releases later today.
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