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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
German machinery orders came in at -5% Y/Y in July. While that was again an improvement over June's -9% (and May's -27%), the overall trend remains contractionary: With the exception of April, the machinery orders' Y/Y rate has printed below 0% for a consecutive 22 months, and VDMA adds that a trend reversal is not in sight as as the same month last year had only achieved a meagre order volume.
- Looking at a geographical split, the decline in July was evenly distributed (both -5% Y/Y).
- July overall German factory orders as well as industrial production will be released next week - while a consensus estimate for the data is not available yet, considering deteriorating sentiment in the sector, a follow-up to June's partial rebound (FO +3.9% M/M, IP +1.4% M/M) appears unlikely at this stage.
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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