From Eurozone, on Wednesday, Industrial Production data was published. In October 2016 compared with September 2016, seasonally adjusted industrial production fell by 0.1% in the euro area (EA19) and by 0.3% in the EU28, according to estimates from Eurostat, the statistical office of the European Union. The decrease of 0.1% in industrial production in the euro area in October 2016, compared with September 2016, is due to production of non-durable consumer goods falling by 1.5% and intermediate goods by 0.5%, while production of energy rose by 0.8%, capital goods by 1.0% and durable consumer goods by 1.5%.
Thursday was marked by German and French Manufacturing and Services PMI figures. December’s flash France PMI data indicated private sector output rose at a sharper pace. Stronger growth was registered in both the manufacturing and service sectors, with the rate of expansion the most marked in the former. Flash France Manufacturing PMI rose to 53.5 from 51.7 in November, 67-month high. Flash France Services Activity Index increased to 52.6 from 51.6 in November, 3-month high.
Growth of Germany’s private sector continued at the robust pace seen in the preceding two months during December. The Markit Flash Germany Composite Output Index posted 54.8, down only slightly from 55.0 in November and 55.1 in October. Together, those three readings pointed to the strongest quarter since Q2 2014 (average: 55.0). Flash Germany Services PMI Activity Index came at 53.8 from 55.1 in November, 3-month low. Flash Germany Manufacturing PMI was up to 55.5 from54.3 in November, 35-month high.
This week markets will be looking at:
German Ifo Business Climate (Monday 10:00)
