Quotes from Societe Generale Cross Asset Research:
-Euro-area industrial production likely surged by 0.7% mom sa (0.2% yoy wda) in September, partially offsetting the sharp 1.3% mom drop recorded in August. The drop in August partially owed to a higher-than-usual number of holidays, which helps explain the September catch-up. Yet, if our forecast is met, euro-area industrial output will have experienced a 0.6% qoq fall in Q3.
-Given that energy output rebounded, this mirrors a weak trend in manufacturing output, due essentially to weak domestic demand. Looking at the regional breakdown, industrial output rebounded by 1.7% mom in Germany, by 0.5% mom in Spain and was flat in France. It is likely to drop by 0.9% mom in Italy.
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