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German new industrial orders -4.8% M/M in November vs. +5% in October and -1.7% forecast....
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Friday, January 6, 2012, 6:29 AM ETGerman new industrial orders -4.8% M/M in November vs. +5% in October and -1.7% forecast. Foreign orders -7.8%, domestic orders -1.1%. The euro takes a dive from earlier highs and is now -0.1% vs. the dollar.
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Keep the appropriate shorts in mind, ALL GERMAN INDUSTRIALS.
Look at the numbers from the US!!
No, not really. Since trade between each European member is in euros, any decline vs. the dollar has no effect on their European inter-country trade or prices, but the decline vs. outside countries means that they all will export more abroad, and they'll all import less from those external countries. Less consumption, more production, both beneficial.
"Germany’s economy grew at the fastest pace since the country’s reunification two decades ago in the 2010 Q2 as the global recovery boosted exports and companies stepped up investment.
Europe’s largest economy is benefiting from a recovery in global demand just as the euro’s 10% decline against the dollar this year makes its exports more competitive outside the currency bloc. At the same time, governments across the 16- nation euro region are cutting spending to rein in ballooning budget deficits, threatening to slow growth in coming months.
In annualized terms, the German economy expanded about 9 percent in the 2010 Q2, said Andreas Scheuerle, an economist at Dekabank in Frankfurt. That puts it on a footing with emerging markets like China and India."
The interesting part was the coming "ballooning budget deficits, threatening to slow growth in coming months."
Even then everybody ignored it, this was written in 2010.
If I wasn't clear, apologies.