Eurozone July industrial production -0.8% vs -0.5% m/m expected
Latest data released by Istat - 12 September 2018
- Prior -0.7%; revised to -0.8%
- Industrial production WDA -0.1% vs +1.0% y/y expected
- Prior +2.5%; revised to +2.3%
Much like the Italian reading earlier, it's a poor report coupled with negative revisions. Not a good sign for factory activity as far as Q3 data is concerned. Although it's a minor data release, this doesn't bode well for overall economic growth moving forward and stuff like this is what weighs on the ECB's growth projections - which is reported to be revised lower tomorrow.