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العربية
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13 June

By Ahmed Mamdouh

Category: FX Graph

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Euro area industrial production disappoints ahead of ECB

Euro area industrial production for April released on Wednesday signaled a more than forecast drop, joining a parade of recent disappointing data, ahead of the European Central Bank’s monetary decision tomorrow.

Industrial output fell 0.9 percent in April, following a revised of 0.6 percent drop in March, compared to forecasts of 0.6 percent plummet.

The most recent data from the euro area’s biggest economies have suggested the 19-nation region may miss the ECB’s growth target for 2018.

The ECB will provide an update about the economy on Thursday, including the latest growth and inflation outlook, as investors await an announcement regarding the time at which the ECB stimulus program would end.

While euro area inflation has moved towards the ECB’s 2 percent objective, other data have raised expectations the growth pace would slow below the ECB estimates of 2.4 percent expansion predicted in March.

As of 10:02 GMT, the euro traded slightly higher at $1.1758, ahead of the Federal Reserve’s monetary decision later in the day.

Ahmed Mamdouh

Ahmed Mamdouh is the head of the English Fundamental Analysis at D1stp.com, with 9 years of experience in the financial markets. Mamdouh holds a Master’s Degree in Economics from The American University in Cairo and a Bachelor Degree in Economics from The Faculty of Economics and Political Science, Cairo University.