European industrial production fell the most since 2014 according to the latest report from Eurostat, reflecting the recent deceleration in global trade despite increased competitiveness from a weaker Euro. Last week’s data from France, Germany contributed to the decrease whereas Spain’s positive results were not strong enough to offset the bigger picture decline. For the month of November, industrial output plunged -0.70% compared to October’s revised value of 0.80%. Declines were attributed to energy output falling by -4.30%, capital goods sliding by -1.90%, and consumer durable goods down by -1.00%. Annual industrial production reflected the decline, falling to 1.10% expansion versus the prior year, retreating from the previous month’s revised value of 2.00%. Annual data recorded production of intermediate goods rising by 2.10%, durable consumer goods by 1.70% and both capital goods and non-durable consumer goods growing 1.20%, while production of energy fell by -2.80%.
Crude Crumble Continues
Daily Analysis - 14/01/2016