Data released yesterday shows that Eurozone industrial production dropped 6.8% year-on-year and 0.4% month-on-month, missing expectations of a 0.7% increase. The steepest monthly declines were in Italy, Ireland and Portugal, whilst the bloc’s largest economies, Germany and France, recorded increases.
Virus cases are still rising across Europe, with Germany cutting their growth outlook for 2021. Earlier this week, President of the ECB, Christine Lagarde, hinted that there would be further easing to support the European economy. The ECB are expected to reveal changes to their monetary policy in their December meeting.
