during in christmas holidays from dec 22 till jan 02 there will be no reports available, next full report as from jan 05, 2009
In France, industrial production declined 2.7% M/M in October, while the consensus was expecting a drop of 0.5% M/M. On a yearly basis, industrial production fell 7.2% Y/Y. The September figure was downwardly revised to -0.8% M/M. The details show that at least part of the plunge is due to a 14.3% M/M drop in the automobile industry. Also in Italy, industrial production surprised on the downside, falling 1.2% M/M, from a downwardly revised 2.6% M/M drop in September. After the weaker than expected regional industrial production data, we put the risks on the downside of expectations for euro zone figure, released on Friday.
