Eurozone: Industrial production rose 0.2% for a 3.7% yoy pace - BBH

Analysts at BBH explain that Eurozone's industrial production figures for October showed that the weakness in Germany was more than offset by gains elsewhere, including France, Italy and Spain.    

Key Quotes

“The aggregate figure rose 0.2% for a 3.7% year-over-year pace.  The previous average for the year was 2.6%.     The euro barely responded.  It has been confined to a less than a third of a cent range.  It briefly traded below last week's low (~$1.1730) yesterday but closed above it and remains above it today.   We suspect short-term participants will sell into gains that could carry the single currency into the $1.1780 area.”