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Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
GERMANY
MNI (London)
GERMANY JUL IP % -0.3 %M/M (FCST -0.6%); JUN +0.8%r M/M
GERMANY JUL IP -1.1% Y/Y (FCST -2.1%); JUN -0.1%r Y/Y
- German industrial production saw a slower-than-expected contraction in July, falling by -0.3% m/m and -1.1% y/y.
- This data confirms the industrial sector continues to struggle under the weight of high energy prices and persistent supply issues, ahead of the ECB's meeting tomorrow. A 75bp hike remains the marginally likelier outcome.
- Energy-intensive branches took the largest hit, with production falling by -1.9% m/m as producers grapple with historically high energy costs.
- Production declined across the board, notably in consumer goods (-2.4%), largely underpinned by a -3.0% fall in non-durables incl. food, whilst capital goods (-0.8%) and intermediate goods (-0.6%) saw softer contractions. Less holiday leave-taking in 2022 provided a small boost to the July figures.
Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
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