Euro area industrial output likely weak in November, on track to deliver positive growth in Q4

The Euro area's output in November is expected to be weaker after the latest batch of national data, Germany (-0.3%) and France (-0.9%) both disappointed.

"November output is likely to be weaker at -0.4 % mom (2.1% yoy)", estimates Societe Generale.

Industrial production should still be slightly positive (0.1% qoq) in Q4 2015 given the solid solid output in October and assuming a constant profile in December.

Momentum in manufacturing remains weak, while consumption will continue to be the main driver of the euro area's recovery.