Investing.com - Financial Markets Worldwide
Cyber Monday Deal: Up to 60% off InvestingProCLAIM SALE

Euro-area Industrial Production Posts The Largest Annual Drop

Published 12/31/2000, 07:00 PM
Updated 05/13/2009, 05:24 AM
TTEF
-

www.TheLFB-forex.com

Release Explanation: Measures of the total value of the output from mines, industrial factories and utilities is in the Industrial read. High production numbers usually denote an economy in an upward trend, or growth period. These reports are reactive to change and are well respected.

TheLFB-Forex.Com Trade Desk Thoughts: Industrial production fell in March in the Euro-area by 2.0%, more than what the market had expected. Compared with one year ago, industrial production is down by 20.2%, the largest annual drop on record.

Monthly data shows that energy production fell by 2.8%, and is down by 9.2% from one year ago; intermediate goods decreased 3.1% and are off by 27.0% year-over-year; non-durable consumer goods fell 1.0% from one month earlier, while durable consumer goods tumbled 2.5% in March from February, and are down by 23.2% from March 2008.

“Industrial production has dropped in 12 out of the 16 Euro-area countries. The only countries that recorded a positive contribution were Portugal, Slovenia, Netherlands and Finland. Compared with one year ago, industrial production took a strong hit.” 

Forex Technical Reaction: The euro dropped 20 pips during the news release, but the market retraced the move quickly. For now, the euro continues to trade in a tight range, similar to the rest of the majors.

Latest comments

Install Our App
Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.