Germany's industrial production declines in October – TDS

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6 December 2019

Germany's industrial production declines in October – TDS

Analysts at TD Securities note that the German industrial production (IP) was much weaker than had been anticipated, and then was suggested by yesterday's factory orders report, with IP at -1.7% MoM in October (market +0.1%).

"Details show that the biggest source of decline was in capital goods production. With a 0.6% decline in September, this sets us up for a very weak start to Q4 activity for Germany."

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