Germany: Industrial production likely to show more strength in November – TDS

Analysts at TD Securities suggest that after declines in Sept-Oct, their early model looks for Germany IP to show a bit more strength in November with a 0.6% gain (market 0.8%).

Key Quotes

“That still leaves IP on track for a chunky 1.5% q/q decline in Q4, which would make for 6 straight quarters of contraction in the manufacturing sector. This would be the sector's longest period without growth since the 1970s. Note that we have downgraded our forecast somewhat compared to last week's initial 1.0% estimate after yesterday's factory orders data was a bit weaker than expected.”