Italian September industrial output has come in at -5.3% m/m, weaker than median forecast of -4.0%, the steepest drop since start of the series back in 1990. On top of that, August’s data was downwardly revised, to +5.8% from initial +7.0%. Kinda volatile series.
Meanwhile Q3 industry output +4.0 q/q after -3.3% in Q2. First quarterly rise since Q1 2008. That’s better.
EUR/USD steady at 1.4980. German ZEW data awaited in just under an hour. Economic sentiment for November expected 55.0 from previous 56.0.