Euro area Industrial Production expands by 2.3% in November vs. 0.5% expected

• Industrial Production in the euro area expanded at a stronger pace than expected in November.
• EUR/USD continues to trade in a tight range above 1.1350.

Industrial Production in the euro area and the EU expanded by 2.3% and 2.5%, respectively, on a monthly basis in November, the data published by Eurostat revealed on Wednesday. The market expectation was for an increase of 0.5% in the euro area.

On a yearly basis, Industrial Production in the euro area contracted by 1.5%, compared to analysts' estimate for an expansion of 0.6%, and remained unchanged in the EU.

Market reaction

Investors showed little to no reaction to these figures and the EUR/USD pair was last seen trading virtually unchanged on the day at 1.1365.