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Eurozone GDP stalled while UK manufacturing and industrial output fell – TDS

FXStreet (Delhi) – Research Team at TDS, lists down the outcome of the key data releases from the UK and Eurozone for today.

Key Quotes

UK: Industrial output in the manufacturing sector fell 0.4% m/m in October, slightly weaker than expected by markets. The decline was led by the nebulous “Other manufacturing and repair” component, which fell over 5%. More broadly, headline IP rose 0.1% m/m as expected. The negative print on manufacturing IP confirms that the strong level of GBP continues to weigh on activity in the production and export sectors, leaving the domestic (and in particular services) sectors to lead growth this year and into next.”

Eurozone: The second release of 15Q3 euro area GDP confirmed the initial 0.3% q/q print. Details of the GDP report showed that domestic demand was fully responsible for the increase in the quarter, with household consumption leading the way. Inventory accumulation also contributed importantly in the quarter, while strong imports were a drag on growth.”

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