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Forex Flash: Industrial production to show a negative print in January - RBS

Eurostat is scheduled to publish the January industrial production for the Eurozone on Wednesday, 13 March. Market expectation is a 2.2% decline from the same month in 2012 and a marginal monthly decline of 0.1% from December.

RSB Economist Richard Barwell states that "as President Draghi is fond of reminding us, the soft data are almost uniformly positive, but following last week's disappointing release of German data, we cannot muster much enthusiasm for the Eurozone industrial production numbers."

The RBS team agrees with market consensus as they anticipate "a negative print - albeit a marginal 0.1 percent contraction on the month - after the healthy 0.7 percent expansion in December," Barwell concludes.

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