German and French manufacturing and IP confirmed large downside risks - TDS

Research Team at TDS, suggests that the German and French manufacturing and IP releases confirmed their large downside risks, with headline German IP falling 1.3% (mkt: -0.2) and French IP falling 0.3% (mkt: +0.7%).

Key Quotes

“In Germany, weakness was broad-based, with manufacturing and construction both down sharply, while energy output managed to post a minimal gain. In France, weakness was also broad-based, with electricity & gas posting a healthy gain and construction growing by about 1% following a sharp decline in February.”