Germany's industrial production likely to come in at -1.0% – TDS

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6 November 2019

Germany's industrial production likely to come in at -1.0% – TDS

Analysts at TD Securities note that Germany's factory orders posted a 1.3% m/m gain in September, beating consensus of 0.1%.

“Manufacturing shipments posted a -1.3% m/m decline, pointing to clear downside risks to tomorrow's IP data. We've changed our forecast and now look for German IP to come in at -1.0% m/m tomorrow morning (mkt -0.4%).”

Initiations before the market open

U.S.: Nonfarm Productivity, q/q, Quarter III -0.3% (forecast 0.9%)

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