Eurozone Industrial Production Figures for April Deliver EUR Support
Eurozone industrial production figures come in ahead of forecasts delivering EUR support in spite of last week’s weak numbers from France and Germany.
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It’s a quieter day on the economic data front this morning. Industrial production figures for the Eurozone were in focus this morning.
Industrial Production
In April, industrial production increased by 0.8%, coming in ahead of a forecasted and March 0.4% rise.
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According to Eurostat,
- Production of consumer goods rose by 3.4%, energy by 3.2%, capital goods by 1.4%, and intermediate goods by 0.8%.
- Bucking the trend, however, was a 0.3% decline in the production of non-durable consumer goods.
- Belgium (+7.4%), Malta (+5.6%), and Estonia (+4.4%) recorded the largest monthly increases.
- Lithuania registered the largest monthly decrease of 2.4% in the month.
- Compared with April 2020, industrial production was up by 39.3%.
- The production of durable consumer goods was up by 117.3%, year-on-year.
- There were also marked increases in the production of capital goods (+65.4%) and intermediate goods (+38.7%).
- Non-durable consumer goods (+15.4%) and energy (+14.4%) production were up modestly by comparison.
Market Impact
Ahead of the trade data, the EUR had fallen to a pre-stat and current day low $1.20943 before rising to a pre-stat high and current day high $1.21208.
In response to the industrial production figures, the EUR slipped to a post-stat low $1.21085 before rising to a post-stat high $1.21187.
At the time of writing, the EUR was up by 0.06% to $1.21154.