Germany: Industrial Production likely to post -0.7% for September - Nomura

Germany’s industrial production is likely to be a key economic release for today’s session, according to analysts at Nomura.

Key Quotes

“Manufacturing output in Germany’s PMI survey dropped by more than 3 points in September because of new emission standard rules that adversely affected the German car industry, causing substantial bottlenecks and production slowdowns. Because of this, we think German IP will fail to recover even after three consecutive m-o-m declines, and we forecast -0.7% m-o-m for September IP.”