While France deteriorates, Germany powers on


German flash manufacturing PMI has climbed to a 29-month high of 52.5 in November from 41.7 in October and topped consensus of 52.

Services jumped to 54.5 from 52.9 and vs 53.

Manufacturing output rose to 54 from 53.6.

Composite output increased to 54.3 from 53.2.

The data suggests that the German economy "is well on track to achieve growth of close to 0.5%" in 2013, says Markit.

Strong new business and backlogs indicate that the solid growth momentum will be sustained, with improvements in investment spending and job creation set to follow the upturn in business conditions.

The DAX is -0.8%, while the euro recovers its post French PMI losses and is -0.1%. (PR)

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Comments (4)
  • DeepValueLover
    , contributor
    Comments (11226) | Send Message
     
    The euro has been very good to productive countries like Germany. They may have a surplus within five years.
    21 Nov 2013, 05:55 AM Reply Like
  • seterk
    , contributor
    Comments (290) | Send Message
     
    I have the Scandinavian GXF ETF, do you think this will do a good side play on the German economy? It has been doing well so far this year.
    21 Nov 2013, 08:18 AM Reply Like
  • DeepValueLover
    , contributor
    Comments (11226) | Send Message
     
    I like the (EWGS) ETF.
    21 Nov 2013, 09:48 AM Reply Like
  • Brian Bobbitt
    , contributor
    Comments (2084) | Send Message
     
    Sure glad I quit trading EUO. How it can hold up I have no idea. I am sure the E$ and the US$ will encounter the headwinds of inflation soon. I mean inflation that has to be noted by governments, and by the time they admit it, it will be nasty. I still say buy silver.
    Capt. Brian
    The Lost Navigator
    PS my main money is in the aforementioned mutual funds and making an average of 19% plus over the last 6 months.
    21 Nov 2013, 01:51 PM Reply Like
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