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German new industrial orders -4.8% M/M in November vs. +5% in October and -1.7% forecast....

German 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.
Comments (9)
  • Cliff Wachtel
    , contributor
    Comments (1773) | Send Message
     
    Watch out, along w/ poor EZ figures out today could put damper on markets unless US jobs reports out later are very strong. If not, pre-weekend sell-off for risk assets
    6 Jan 2012, 06:49 AM Reply Like
  • mP1
    , contributor
    Comments (386) | Send Message
     
    Was all this eurozone madness worth it Germany?
    6 Jan 2012, 08:50 AM Reply Like
  • Dr. V
    , contributor
    Comments (1179) | Send Message
     
    As we have anticipated, production and thereby export, screeching to a halt, and yet they (Germany) continue to deny any change in the, "freight train of growth & production called Germany" as one German newspaper recently put it.

     

    Keep the appropriate shorts in mind, ALL GERMAN INDUSTRIALS.
    6 Jan 2012, 08:52 AM Reply Like
  • GOLLIATH
    , contributor
    Comments (47) | Send Message
     
    It is a temporary setback. The European union is growing back!,

     

    Look at the numbers from the US!!
    6 Jan 2012, 08:59 AM Reply Like
  • Tack
    , contributor
    Comments (12761) | Send Message
     
    The strengthening U.S. economy and dollar, coupled with a weakening Euro, will do its magic to improve Europe's export economy. Stay tuned.
    6 Jan 2012, 10:36 AM Reply Like
  • Dr. V
    , contributor
    Comments (1179) | Send Message
     
    Of course, weak Euro drives German export numbers, but the rest are shagged again then, aren't they?
    10 Jan 2012, 03:33 AM Reply Like
  • Tack
    , contributor
    Comments (12761) | Send Message
     
    v:

     

    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.
    10 Jan 2012, 08:12 AM Reply Like
  • Dr. V
    , contributor
    Comments (1179) | Send Message
     
    I should have said, this is what's being said about it in Germany:

     

    "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.
    14 Jan 2012, 01:36 AM Reply Like
  • marpy
    , contributor
    Comments (688) | Send Message
     
    With the rest of the EEC struggling this is no surprise.
    6 Jan 2012, 11:09 AM Reply Like
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