Euro area Industrial Production expands by 2.3% in November vs. 0.5% expected

Industrial Production in the euro area expanded at a stronger pace than expected in November.
EUR/USD continues to trade in a tight range above 1.1350.

Eren Sengezer FXStreet

Industrial Production in the euro area and the EU expanded by 2.3% and 2.5%, respectively, on a monthly basis in November, the data published by Eurostat revealed on Wednesday. The market expectation was for an increase of 0.5% in the euro area.

On a yearly basis, Industrial Production in the euro area contracted by 1.5%, compared to analysts' estimate for an expansion of 0.6%, and remained unchanged in the EU.

Market reaction

Investors showed little to no reaction to these figures and the EUR/USD pair was last seen trading virtually unchanged on the day at 1.1365.

Author

Eren Sengezer

FXStreet

As an economist at heart, Eren Sengezer specializes in the assessment of the short-term and long-term impacts of macroeconomic data, central bank policies and political developments on financial assets.

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