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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.

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

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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