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Tuesday, May 14, 7:26 AM
ZEW says its index of investor and analyst expectations crept up to 36.4 this month from 36.3 in April, missing economists' forecast of 40. The below-consensus reading was largely attributed to a generalized sense of anxiety regarding the economic situation in the eurozone as a whole, underscored by the ECB's recent rate cut. "The problem is that [Germany] seems to be the only big EU economy growing," notes a senior economist at Citigroup, quoted by Bloomberg. The DAX (EWG) is -0.19%.
Comment![Global & FX]
Thursday, March 21, 4:41 AM
Flash German manufacturing PMI unexpectedly drops to 48.9 from 50.3 in February; manufacturing output 49.8 vs 50.7; services 51.6 vs 54.7, composite output 51 vs 53.3. The loss of output growth momentum was the greatest since the middle of 2011, says Market, while the survey doesn't take into account the impact of the Cyprus flair-up. The Dax and euro dive, and are -0.7% and -0.3% (vs the dollar) respectively. (PR)
Comment![Global & FX, Top Stories, On the Move]
Tuesday, March 12, 3:08 AM
German harmonized index of consumer prices (HICP) falls to +1.8% Y/Y in February from +1.9% in January. On month, HICP +0.8% vs -0.7%. CPI slips to +1.5% Y/Y from +1.7%; on month +0.6% vs -0.5%. All the numbers were in line. (PR)
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Monday, March 11, 6:12 AMGermany's trade surplus slips to a seasonably adjusted €15.7B in January from €16.9B in December and vs consensus of €15.8B. Exports +1.4% M/M vs +0.2% and +0.3%. Imports +3.3% vs -1.5% and +1%. "Very hesitantly, hard data is reflecting the strong rebound in sentiment surveys," says Berenberg Bank economist Christian Schulz. (PR)
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Friday, March 1, 4:16 AM
German manufacturing PMI climbs to 50.3 (flash 50.1) in February from 49.8 in January as new business increases at the fastest pace for almost two years, export demand rebounds, and the decline in employment slows down. The data shows that the manufacturing sector is "firmly on track to boost German GDP over the first quarter of 2013," Markit says. (PR) Comment![Global & FX, Top Stories, Breaking News]
Tuesday, January 15, 3:42 AM
More on 2012 German GDP: taking into account three fewer working days, GDP +0.9%. Exports +4.1% and imports +2.3%, with the balance contributing 1.1 percentage point to the expansion and was "once again the main driving force for economic growth." Household expenditure +0.8%, government spending +1%; capital formation in construction -1.1%, and in machinery and equipment -4.4%. Employment hits record 41.6M; gross labor productivity -0.3% but +0.4% per hour worked. (PR)
Comment![Global & FX, Top Stories, Breaking News]
Wednesday, August 1, 2012, 3:59 AM
German manufacturing PMI dropped to 43.0 in July from 45.0 in June, reaching its lowest level since June 2009. "Manufacturers linked the latest setback to shrinking export sales and a general shortage of new work to replace completed projects... job shedding was the most marked since the start of 2010." (PR .pdf)
4 Comments[Global & FX, Breaking News, Top Stories]
Tuesday, July 24, 2012, 3:37 AM
German flash manufacturing PMI contracts to 43.3 in July, a 37-month low, vs. 45.0 in June and 45.1 expected. PMI services at 49.7 vs. 49.9 prior and 50.0 expected. "German business conditions are far less healthy" than in H1 and "an accelerated decline in new work means that the stage could well be set for a steeper drop in GDP than the 0.2% fall recorded at the end of 2011." (PR)
2 Comments[Global & FX, Breaking News, Top Stories]
Friday, June 29, 2012, 3:15 AM
European markets rocket out of the gate as investors cheer progress on a tighter union and bank recapitalization. London +1.7%. Paris +3.0%. Frankfurt +2.4%. Madrid +4%. Euro +1.2% to $1.2592. Sterling +1% to $1.5664.
19 Comments[Global & FX, On the Move, Top Stories]
Monday, May 14, 2012, 3:37 AM
Angela Merkel's conservative party failed to win back power in North Rhine-Westphalia, Germany's most populous state. Center-left social democrat Hannelore Kraft won the vote, a rebuke for Merkel and her austerity push. Frankfurt -1.3%.
1 Comment[Global & FX, On the Move]
Tuesday, April 24, 2012, 4:15 AM
The German government expects GDP growth of 0.6-0.9% this year, according to German daily Die Welt, and growth of 1.6-1.9% next year. The figures indicate some optimism, as the government's most recent forecast was for 0.7% growth this year and 1.6% next.
3 Comments[Global & FX]
Monday, April 23, 2012, 4:06 AM
German PMI comes in at 46.3, the lowest since July 2009 and missing estimates for 49. The data adds to concerns about the outlook for the eurozone's largest economy.
1 Comment[Top Stories, Global & FX]
Wednesday, April 11, 2012, 6:03 AM
After surging recently, and despite today's more expensive Italian bond auction and woeful Spanish industrial output data, yields on 10-year Italian and Spanish debt take a dive. That latter is -14 bps at 5.84% and Italian yields are -18 bp at 5.51%. German yields, which had been falling, are +15 bps at 1.79%.
2 Comments[Global & FX, Top Stories]
Thursday, March 29, 2012, 5:41 AMGerman unemployment falls to 6.7% in March, the lowest since comparable records began in 1998, from from 6.8% in Feb. The decline comes despite the eurozone debt crisis and indicates that the Germany economy may be recovering from its dip. New orders fell 16% in Feb. Y/Y, but industry group VDMA expects output to pick up again in H2.
Comment![Global & FX, Top Stories]
Thursday, March 22, 2012, 5:55 AM
Markit Flash Germany PMI for March: manufacturing 48.1 (50.2 in February), 4-month low; services activity 51.8 (52.8), 4-month low; composite output index 51.4 (53.2), 3-month low. "A slight stumble for Germany’s private sector in March, meaning the survey is tracking a modest GDP rise of around 0.2%" over Q1," Markit says. (PR)
1 Comment[Global & FX, Top Stories]