Free Trial

Flash GDP (Q1 2020) Preview - 07:00.....>

GERMAN DATA
MNI (London)
GERMAN DATA: Flash GDP (Q1 2020) Preview - 07:00 BST
---------------------------------------------------------------------------
- Bbg Cons: -2.2% q/q (sa), -2.0% y/y (wda); Prev (Q4): 0.0% q/q, 0.4% y/y 
- Germany's GDP is expected to contract by 2.2% q/q in Q1, which would mark the
lowest level since Q1 2009 and comes after the economy stagnated in Q4. 
- Strict social distancing measures were introduced on Mar 23 in all German
states, slightly later than in Italy, France or Spain. 
- Retail sales already plunged by 5.6% in Mar and reversing previous gains. 
- The industrial sector saw an even steeper contraction in Mar, with output
slumping to a record low of -9.2%. 
- The outlook for Q2 is bleak with the Ifo institute forecasting a decline of
12.2%, downwardly revised from their original forecast of a 9.8% drop. 
- Strict restrictions remained in place in Apr in most states and the country
only started to open-up gradually. 
- IP is seen declining further, indicated by the Ifo production expectations
index plunging in Apr and the truck toll mileage index posting a record low. 
MNI London Bureau | +44 203-865-3812 | les.commons@marketnews.com
MNI London Bureau | +44 203-865-3812 | les.commons@marketnews.com

To read the full story

Close

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.