Euro zone industrial output is firmer than anticipated

Euro zone industrial output is firmer than anticipated

In January, euro zone industrial output turned out to be stronger than anticipated. That’s what data uncovered on Wednesday. The given outcome became possible do to a considerable contribution from energy. What’s more, it even neglected a tumble in German output.

As the European Union's statistics office Eurostat informed, in January, industrial output in the 19 countries that sharing the common currency managed to tack on by up to 1.4% month-on-month for a 1.1% year-on-year dive.

Financial analysts who were interviewed by Reuters had hoped for a 1% monthly leap as well as a 2.1% annual tumble.

The January outcome was mainly caused by a 2.4% monthly as well as 4% year-on-year rally in energy output that helped to compensate mitigate or compensate the dismal outcomes for capital and intermediate goods production.

In fact, output managed to head north in spite of a decline in Germany, which appears to be the leading economy of the European Union. As follows from Eurostat’s estimate, in Germany, industrial output inched down by about 0.9% on the month that happens to be a higher dive than the 0.8% slump forecast by the German statistics agency earlier this week.

As a matter of fact, huge leaps in Italy and France, which are respectively the third and second economies of the European Union, more than compensated that German data.

As Eurostat informed, in France, output headed north by up to 1.3% on the month, while in Italy, it managed to inch up by about 1.7%.

Meanwhile, the USD index was a bit lower versus rival currencies, demonstrating an outcome of 96.899.

The euro went up by 0.1% hitting $1.13.

Similar

Fears over no-deal Brexit pushed GBP down

All attention on the market is on the Brexit process. Fears over the no-deal Brexit pushed the British pound deep down yesterday after UK Prime Minister Boris Johnson claimed he was ready to abandon negotiations.

Vaccine hopes vs. Covid-19 resurgence

The market sentiment is mixed, and the US dollar is trading near the lowest levels for over two years. Let’s have a look at the main market movements today.

Latest news

USD strengthened as optimism waned
USD strengthened as optimism waned

The market optimism waned amid stricter restrictions to control rising coronavirus infections. S&P 500 and Nasdaq dropped from the all-time highs, while the USD jumped higher.

Stocks up, USD down
Stocks up, USD down

S&P 500 skyrocketed to the all-time high on optimism that Biden’s fiscal stimulus will support economic growth and boost corporate earnings.

Deposit with your local payment systems

Learn more

Data collection notice

FBS maintains a record of your data to run this website. By pressing the “Accept” button, you agree to our Privacy policy.

Callback

Manager will call your number

Correct number

Your request is accepted

Manager will call your number

Next callback request for this phone number
will be available in {time}

If you have an urgent issue please contact us via
Live chat

Internal error. Please try again later

Don’t waste your time – keep track of how NFP affects the US dollar and profit!

Beginner Forex book

Beginner Forex book will guide you through the world of trading.

Beginner Forex book

The most important things to start trading
Enter your e-mail, and we will send you a free Beginner Forex book

Thank you!

We've emailed a special link to your e-mail.
Click the link to confirm your address and get Beginner Forex book for free.

You are using an older version of your browser.

Update it to the latest version or try another one for a safer, more comfortable and productive trading experience.

Safari Chrome Firefox Opera