{"id":95809,"date":"2020-02-10T08:50:39","date_gmt":"2020-02-10T13:50:39","guid":{"rendered":"https:\/\/currencylive.com\/news\/?p=95809"},"modified":"2020-02-10T09:06:54","modified_gmt":"2020-02-10T14:06:54","slug":"102333-gbp-eur-more-european-industrial-distress-from-italy","status":"publish","type":"post","link":"https:\/\/currencylive.com\/news\/102333-gbp-eur-more-european-industrial-distress-from-italy\/","title":{"rendered":"Pound to Euro: More European Industrial Distress from Italy"},"content":{"rendered":"<ul>\n<li><a href=\"#industrial\">Italian industrial output plummets<\/a><\/li>\n<li><a href=\"#irish\">Irish nationalist party&#8217;s victory a cause for concern in the UK<\/a><\/li>\n<\/ul>\n<p>The <a href=\"https:\/\/currencylive.com\/news\/currency\/gbp\/\">British pound<\/a> is up against the <a href=\"https:\/\/currencylive.com\/news\/currency\/eur\/\">euro<\/a> on Monday afternoon after a shock monthly decline in Italian industrial output added to the growing list of disappointing economic data from the Eurozone. Elsewhere shares in Europe and the UK were lower on Monday amid new reported cases of the coronavirus in Britain and France.<\/p>\n<p><a href=\"https:\/\/currencylive.com\/exchange-rate\/gbp-to-eur-exchange-rate-today\/\">GBP\/EUR<\/a> was higher by 36 pips (+0.32%) at 1.1803 with a daily price range of 1.176 to 1.181 as of 1pm GMT. The currency pair pushed higher in early trading before pausing around the 1.18 level. The daily gains eat away slightly from the -1.00% lost over the course of the previous week.<\/p>\n<h2 id=\"industrial\">GBP\/EUR: Italian industrial output plummets<\/h2>\n<p>A lot of the focus has been on the slowdown in Germany but today it was Italy providing evidence of a slowing industrial sector across the rest of Europe too. Italian industrial output fell -2.7% month-over-month when activity was thought to remain flat. On an annual basis, activity is down -4.3%. Italy has a lot of heavy industry and large multinational manufactures located especially in the north. Put together these firms represent 15% of Italy\u2019s Gross Domestic Product (GDP).<\/p>\n<p>The slowdown like in Germany is being attributed more to a slowdown in international demand than domestic, which has remained sluggish for much of the last decade. The fast growth in Italian heavy machine good exports has been to China and South East Asia, precisely the areas under pressure from trade tensions and the coronavirus outbreak.<\/p>\n<h2 id=\"irish\">Irish nationalist party&#8217;s victory a cause for concern in the UK<\/h2>\n<p>For the British Isles, the main development was in Ireland, where Sinn F\u00e9in known for its political support of the IRA during the Troubles in Northern Ireland won a shock populist election victory. The left-wing Irish nationalist party\u2019s victory potentially brings more trouble down the road for <a href=\"https:\/\/currencylive.com\/news\/topic\/brexit\/\">Brexit<\/a> and perhaps for the future of the United Kingdom because of the party\u2019s support for the reunification of the Republic Ireland with Northern Ireland.<\/p>\n<p>The next batch of potentially forex market-moving <a href=\"https:\/\/currencylive.com\/news\/topic\/economics\/\">economic data<\/a> from the UK arrives tomorrow with a triple whammy of Industrial production, trade balance and fourth-quarter GDP growth. The big one is GDP, where quarterly GDP growth is expected to have stalled to zero.<\/p>\n<hr \/>\n<h6><em>Currencylive.com<\/em><em> is a news site only and not a currency trading platform.<\/em><\/h6>\n<h6><em>Currencylive.com is a site operated by TransferWise Inc. (&#8220;We&#8221;, &#8220;Us&#8221;), a Delaware Corporation. We do not guarantee that the website will operate in an uninterrupted or error-free manner or is free of viruses or other harmful components. The content on our site is provided for general information only and is not intended as an exhaustive treatment of its subject. We expressly disclaim any contractual or fiduciary relationship with you on the basis of the content of our site, any you may not rely thereon for any purpose. You should consult with qualified professionals or specialists before taking, or refraining from, any action on the basis of the content on our site. Although we make reasonable efforts to update the information on our site, we make no representations, warranties or guarantees, whether express or implied, that the content on our site is accurate, complete or up to date, and DISCLAIM ANY IMPLIED WARRANTIES OF MERCHANTABILITY OR FITNESS FOR A PARTICULAR PURPOSE. Some of the content posted on this site has been commissioned by Us, but is the work of independent contractors. These contractors are not employees, workers, agents or partners of TransferWise and they do not hold themselves out as one. The information and content posted by these independent contractors have not been verified or approved by Us. The views expressed by these independent contractors on currencylive.com do not represent our views.<\/em><\/h6>\n","protected":false},"excerpt":{"rendered":"<p>Italian industrial output plummets Irish nationalist party&#8217;s victory a cause for concern in the UK The British pound is up against the euro on Monday afternoon after a shock monthly decline in Italian industrial output added to the growing list of disappointing economic data from the Eurozone. Elsewhere shares in Europe and the UK were [&hellip;]<\/p>\n","protected":false},"author":163946604,"featured_media":5739,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[1380,1379],"tags":[2139,1502,1446,2266,2265,2263,2267,2264],"class_list":{"0":"post-95809","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-eur","8":"category-gbp","9":"tag-coronavirus","10":"tag-exports","11":"tag-germany","12":"tag-ireland","13":"tag-italian-gdp","14":"tag-italian-industrial-output","15":"tag-populist-election-vicotry","16":"tag-slowdown"},"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.6 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Pound to Euro: More European Industrial Distress from Italy - Currency Live<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/currencylive.com\/news\/102333-gbp-eur-more-european-industrial-distress-from-italy\/\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Fabio Beccari\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/102333-gbp-eur-more-european-industrial-distress-from-italy\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/102333-gbp-eur-more-european-industrial-distress-from-italy\\\/\"},\"author\":{\"name\":\"Fabio Beccari\",\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/#\\\/schema\\\/person\\\/33f0a0ab3cf382315be5bcec964c06cb\"},\"headline\":\"Pound to Euro: More European Industrial Distress from Italy\",\"datePublished\":\"2020-02-10T13:50:39+00:00\",\"dateModified\":\"2020-02-10T14:06:54+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/102333-gbp-eur-more-european-industrial-distress-from-italy\\\/\"},\"wordCount\":642,\"image\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/102333-gbp-eur-more-european-industrial-distress-from-italy\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/currencylive.com\\\/news\\\/wp-content\\\/uploads\\\/2019\\\/08\\\/gbp-eur-UK-Inflation-Impress.jpg\",\"keywords\":[\"coronavirus\",\"exports\",\"germany\",\"Ireland\",\"Italian GDP\",\"Italian industrial output\",\"populist election vicotry\",\"slowdown\"],\"articleSection\":[\"EUR\",\"GBP\"],\"inLanguage\":\"en-US\",\"copyrightYear\":\"2020\",\"copyrightHolder\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/#organization\"}},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/102333-gbp-eur-more-european-industrial-distress-from-italy\\\/\",\"url\":\"https:\\\/\\\/currencylive.com\\\/news\\\/102333-gbp-eur-more-european-industrial-distress-from-italy\\\/\",\"name\":\"Pound to Euro: More European Industrial Distress from Italy - 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