- Analytics
- News and Tools
- Market News
- Eurozone Industrial Production contracts by 2% in October vs. -1.5% expected
Eurozone Industrial Production contracts by 2% in October vs. -1.5% expected
- Industrial Production in the euro area and the EU contracted in October.
- EUR/USD stays in positive territory above 1.0650 after the data.
The data published by Eurostat revealed on Wednesday that Industrial Production in the euro area and the EU contracted by 2% and 1.9%, respectively, on a monthly basis in October. The market expectation was for a 1.5% decline in the euro area's production.
When compared to October 2021, Industrial Production in the euro area grew by 3.4%, down from the 5.1% expansion recorded in September.
"In the euro area in October 2022, compared with September 2022, production of energy fell by 3.9%, durable consumer goods by 1.9%, intermediate goods by 1.3% and capital goods by 0.6%, while production of non-durable consumer goods rose by 0.3%," the publication further read.
Market reaction
EUR/USD showed no immediate reaction to these figures and was last seen rising 0.27% on the day at 1.0658.
© 2000-2024. All rights reserved.
This site is managed by Teletrade D.J. LLC 2351 LLC 2022 (Euro House, Richmond Hill Road, Kingstown, VC0100, St. Vincent and the Grenadines).
The information on this website is for informational purposes only and does not constitute any investment advice.
The company does not serve or provide services to customers who are residents of the US, Canada, Iran, The Democratic People's Republic of Korea, Yemen and FATF blacklisted countries.
Making transactions on financial markets with marginal financial instruments opens up wide possibilities and allows investors who are willing to take risks to earn high profits, carrying a potentially high risk of losses at the same time. Therefore you should responsibly approach the issue of choosing the appropriate investment strategy, taking the available resources into account, before starting trading.
Use of the information: full or partial use of materials from this website must always be referenced to TeleTrade as the source of information. Use of the materials on the Internet must be accompanied by a hyperlink to teletrade.org. Automatic import of materials and information from this website is prohibited.
Please contact our PR department if you have any questions or need assistance at pr@teletrade.global.
Bank transfers
