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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.
GERMAN DATA
MNI (London)
GERMANY SEP FACTORY ORDERS -4.0% M/M (FCST -0.5%); AUG -2.0%r M/M
GERMANY SEP FACTORY ORDERS -10.8% Y/Y (FCST -7.2%); AUG -3.8%r Y/Y- German factory orders again contracted in September, falling by 4.0% m/m as demand slows.
- The marked annualised decline of -10.8% y/y was in part due to base effects. Euro-area and foreign orders plunged by -8.0% m/m and -7.0% m/m.
- A notable divergence between product categories was evident: Capital goods orders plunged by -6.0% m/m, indicating pessimistic growth plans pushing a decline in business investment. Intermediate goods fell by -3.4% m/m as short to medium-term demand outlooks weaken ahead of a winter of high energy prices.
- Meanwhile, consumer goods jumped by +7.2% m/m, mirroring robust consumer spending in Q3 which saw GDP remain afloat at +0.3% q/q.
- Further strength in consumer goods could again boost Germany's GDP into Q4 as the economy teeters on the edge of a recession.
German Factory Orders:
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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