Germany: Industrial production to contract by -0.7% M/M in June - TDS

Research Team at TDS, suggests that after the steep fall in factory shipments last week, they look for German IP to contract by -0.7% M/M in June, leaving us far below consensus expectations for a +0.7% gain.

Key Quotes

“This means that IP will have contracted for 4 of the last 5 months. We also get the Eurozone Sentix investor confidence survey for August, where markets are looking for a small bounce from  1.7 to 3.6, regaining only part of the post-Brexit fall from 9.9.”