Bankinter | Industrial production in Eurozone countries grew less than expected in September: 1.2% year-on-year versus 2.1% expected and 1.2% previously (revised from 1.1%). In month-on-month terms, 0.2% versus 0.7% versus a drop of 1.1% (revised from 1.2%). By country, Germany continues to slow down its growth (down 0.8%).
Analysis team’s view: Industrial production, which is highly dependent on the foreign sector, continues to be affected by US tariffs and strong competition in some sectors from other regions such as China. Low interest rates, controlled inflation and fiscal stimulus will boost domestic consumption and offset these headwinds.
