Latest data released by Eurostat - 13 January 2021
- Prior +2.1%; revised +2.3%
- Industrial production WDA -0.6% vs -3.2% y/y expected
- Prior -3.8%; revised to -3.5%
Factory output in the euro area beat expectations in November, rising strongly despite the reintroduction of lockdown measures across the region. That adds to some encouragement to Q4 data - well, at least on the surface of things.
However, the market remains more forward-looking and with tighter virus measures set to extend into the majority of Q1 this year, a double-dip recession is still possible.
