Production is reversing higher again

Eurozone Industrial Production Holding up Well, Despite Covid-19

Posted Monday, December 14, 2020 by
Skerdian Meta • 1 min read

The Eurozone economy is probably heading towards another recession, with the increased restrictions due to coronavirus, which are increasing further as we head towards the Christmas period. However, larger businesses and corporations have been doing well during this pandemic, as earnings from the large companies have shown recently.

Industrial production dipped back in August/September, after the jump following the March/April dive, but it picked up again in October, which shows that this sector won’t have too much trouble during this second lock-down period, although in October the restrictions were just starting, so let’s wait and see in the coming months.


  • October industrial production MoM +2.1% vs +2.0% expected
  • September production MoM -0.4%; revised to +0.1%
  • Industrial production YoY WDA -3.8% vs -4.4% expected
  • September production YoY -6.8%; revised to -6.3%
Industrial production is picking up a touch, and higher revisions will be welcome news in Q4. This morning, the EUR/USD is gaining support due to the weak dollar. One area to watch is the strength of the EUR. If it gets too strong we may see some ECB jawboning. A strong euro is not good for European exporters.
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