020 7898 0500It was a relatively quiet end to the week for the eurozone, although we did see the eurozone’s industrial production figures for August. Year-on-year, production increased by 0.9% following a 0.3% rise the previous month and easily beat market expectations of a 0.2% drop. The month-over-month figures were impressive too, showing production jumped 1% in August following a downwardly revised 0.7% fall in July and above expectations of a 0.4% rise.
We also saw the German inflation rate for September which was confirmed at 2.3% from 2% the previous month. It was in line with market expectations and is the highest rate of inflation since November 2011. The euro weakened against the dollar, but it ended the week higher than it had been at the start. It did manage to make some gains against sterling, which suffered because of renewed Brexit fears.
We will see import and export prices in Germany for August today, but that’s a minor release. Tomorrow is much busier, with the eurozone’s balance of trade figures for August as well as the ZEW economic sentiment indices from Germany and the eurozone. On Wednesday, we will see the final reading of the inflation rate for September which is expected to climb to 2.1% from 2%.
