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Prior -1.2%; revised to -1.1%Euro area industrial output bounced back at the end of Q3 but less than estimated. The breakdown shows an increase in production for intermediate goods (+0.3%), energy (+1.2%), and capital goods (+0.3%). That is slightly offset by declines in production for durable consumer goods (-0.5%) and non-durable consumer goods (-2.6%).
This article was written by Justin Low at investinglive.com.
đź’ˇ DMK Insight
Euro area industrial output’s slight rebound is a mixed bag for traders right now. The revision from -1.2% to -1.1% might seem minor, but it reflects underlying weaknesses in consumer demand, especially with durable goods down 0.5%. Traders should pay attention to the mixed performance across sectors; while intermediate and energy goods saw gains, the decline in consumer goods could signal a slowdown in spending. This could impact related markets, particularly consumer-focused stocks and sectors tied to discretionary spending. If this trend continues, it might lead to a bearish sentiment in the eurozone, affecting the euro’s strength against the dollar and other currencies. Watch for key levels in the EUR/USD pair, especially if it approaches recent support levels. A break below those could trigger further selling pressure. On the flip side, the uptick in capital goods production suggests some resilience in business investment, which could provide a counterbalance to consumer weakness. Keep an eye on upcoming economic indicators that could either reinforce or challenge this narrative, particularly the next round of inflation data and consumer sentiment reports.
đź“® Takeaway
Watch the EUR/USD pair closely; a break below recent support levels could signal further weakness in the euro amid mixed industrial output data.
