Germany: Industrial production numbers awaited – Danske Bank

Sandeep Kanihama FXStreet Contributor

Research Team at Danske Bank, suggests that it is a quiet day in terms of data releases and market participants are likely to be in some state of wait-and-see mode ahead of the ECB meeting tomorrow.

Key Quotes

“One of the few data releases is German industrial production. Yesterday, the German factory orders surprised on the upside by rising 4.9% on the previous month. This indicates industrial production will be strong in coming months, which is in line with the economic survey indicators where both PMI manufacturing and ifo expectations have been robust in Q4. Overall, the latest figures suggest strong GDP growth following modest growth in Q3.”

“UK, Norwegian and Danish industrial production are also set to be released today.”

“The UK NIESR GDP estimate for November will also be in focus as it is quite a reliable indicator for actual GDP growth. In October, it pointed to an economic expansion of 0.4% q/q, close to the growth rate of 0.5% q/q in Q3.”

Author

Sandeep Kanihama

FXStreet Contributor

Sandeep Kanihama is an FX Editor and Analyst with FXstreet having principally focus area on Asia and European markets with commodity, currency and equities coverage. He is stationed in the Indian capital city of Delhi.

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