According to analysts at TD Securities, German IP was much weaker than had been anticipated, and then was suggested by yesterday’s factory orders report, with IP at -1.7% MoM in October (market +0.1%).
Key Quotes
“Details show that the biggest source of decline was in capital goods production. With a -0.6% decline in September, this sets us up for a very weak start to Q4 activity for Germany.”
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