This indicator reffers to the whole industrial production in Europe and market tends to react little at the release because the German and French industrial production indicators are being released a couple of days earlier. Gemany and France being the most important economies in the Eurozone, making about half of the Eurozone GDP, then the actual number for the whole industrial production output for Europe as a whole should be in line with what Germany and France already reported.
Industrial Production is released by Eurostat and it shows the change in the total inflation-adjusted value of output produced by manufacturers, mines and utilities.
The most imporatant things to take into consideration when looking at Industrial Production are the following:
- release date: monthly, about 45 days after the month ends;
- reelease time: 09:00 GMT, during the London trading session;
- actual > forecast = positive for currency;
- actual < forecast = negative for currency;
- leading indicator of economic health;
- second tier indicator;
- low volatility expected.