Euro-area industrial production (IP) ex-construction, to be released on 12 March, likely registered 0.2% m/m growth in January (0.3% y/y).
Data already released for Germany showed that German IP rose for the fifth consecutive month. France also recorded a rise, but Italy's IP declined.
Standard Chartered Bank notes in a report on Wednesday:
- Euro-area manufacturing PMI has recovered from its 16-month low reached in November; it stood at 51.0 in February, signalling modest growth.
- Euro depreciation and lower energy prices are likely tailwinds for manufacturing, the largest component of IP.
