Eurozone Industrial Production expands by 0.9% in September vs 0.3% expected

Industrial Production in the euro area grew at a stronger pace than expected in September.
EURUSD trades deep in negative territory at around 1.0300.

Eren Sengezer FXStreet

Industrial Production in the euro area and the European Union expanded by 0.9% on a monthly basis in August, the data published by Eurostat revealed on Monday. This reading came in better than the market expectation for an increase of 0.3%.

On a yearly basis, Industrial Production in the euro area grew by 4.9%, surpassing analysts' estimate of 2.8% by a wide margin.

Market reaction

The Euro (EUR) failed to capitalize on the upbeat data and EURUSD was last seen losing 0.45% on the day at 1.0305.

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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