Banca March: In Germany, industrial production surprised on the upside in August. Specifically, the indicator climbed 2.9% in the monthly comparison, the biggest advance since October 2021. On a year-on-year basis, German industrial production fell by 2.7% compared with an estimated 3.8% decline.
Still in Germany, analysts’ confidence, measured by the ZEW index, gave mixed signals. On the one hand, the expectations component surprised positively at 13.1 versus the 10 expected, while the current situation component continues to sink at -86.9, levels not seen since Covid-19. At the same time, in the euro zone, the expectations component rose to 20.1 from the previous 9.3.
