Industrial Orders (Jan 2020) Preview....>

GERMAN DATA: Industrial Orders (Jan 2020) Preview - 07:00 GMT 06/03/2020

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- Bloomberg Consensus: 1.3% m/m, -5.2% y/y; Prev (Dec): -2.1% m/m, -8.7% y/y. 

- German factory orders are seen rebounding in Jan with markets pencilling in a

1.3% m/m uptick. 

- M/M orders slumped to -2.1% in Dec, the largest decline since Feb 2019

- Monthly orders fell in eight of the last twelve months, with a sharp drop in

new orders from the Eurozone leading Dec's decline. 

- Dec y/y orders fell to a 10-year low of -8.7%, following a reading of -6.0%. 

- Germany's mfg PMI rose to a 13-month high in Feb, but remains in contraction. 

- The report further notes that new orders eased at the slowest rate in

17-months, however confidence cooled after Jan's rise. 

- The European Commission's ESI for Germany ticked up marginally in Feb, with

industrial sentiment jumping to a 6-month high 

- The outbreak of the coronavirus poses a downside risk in coming months, mainly

on exports and supply chains and could reverse an expected rebound.