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Eurozone Industrial Production Dec (5:00 EST 10:00 GMT)

Consensus: 0.6%
Previous: -0.3%

Outlook: December Industrial Production is expected to get a slight boost to 0.6% from last month’s –0.3% reading, as its keystone country of Germany posted gains in December, combined with neighboring France’s industrial production surprising soundly to the upside with a 0.7% gain versus 0.3% median expectations. The rapid sell off in crude oil prices during the period from the October peak has cut corporate energy costs and may stimulate the otherwise reluctant consumer spending in light of the high employment rates in the region, thereby complementing the tone of modest recovery.
Previous: A dip of -0.3% in Eurozone Industrial Production was registered for the month of November as both Germany and Italy posted declines of –1.5% and -0.7% respectively. Although non-durable goods increased to 0.2%, a drop of –0.7% in durable goods, and the crescendo in crude oil prices has attributed to the overall slowdown in the Eurozone since October postponing demand for durables and consumer products, including the sharp decline in transportation and textiles spending in Italy.