Germany: Industrial Production likely to come in at -1.0% – TDS

Analysts at TD Securities note that the German factory orders posted a 1.3% m/m gain in September, beating consensus of 0.1%.

Key Quotes

“Manufacturing shipments posted a -1.3% m/m decline, pointing to clear downside risks to tomorrow's IP data. We've changed our forecast and now look for German IP to come in at -1.0% m/m tomorrow morning (mkt -0.4%).”