Eurozone Industrial Production declined by 0.8%
In March 2016 compared with February 2016, seasonally adjusted industrial production fell by 0.8% in the euro area (EA19) and by 0.5% in the EU28, according to estimates from Eurostat. Analysts were predicting 0.1% increase. In February 2016 industrial production fell by 1.2% in the euro area and by 1.0% in the EU28.
In March 2016 compared with March 2015, industrial production increased by 0.2% in the euro area and by 0.3% in the EU28.
The decrease of 0.8% in industrial production in the euro area in March 2016, compared with February 2016, is due to production of non-durable consumer goods falling by 1.9%, capital goods by 1.1%, intermediate goods by 0.8% and durable consumer goods by 0.4%, while production of energy rose by 2.0%.
Euro is currently being traded few points below 1.14 level. Pair is likely to find support around 1.1370 handle and resistance above 1.1450 level. Later today, in the US session, Unemployment Claims figures will be released.
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