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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 FEB IND PROD +2.0% M/M (FCST -0.1%); JAN +3.7%r M/M
GERMANY FEB IND PROD +0.6% Y/Y (FCST -2.0%); JAN -1.6% Y/Y
- Against expectations of a marginal contraction, German industrial production posted a robust +2.0% m/m uptick in February, after strong +3.7% m/m growth in January.
- This follow's the yesterday's rebound in German factory orders, which jumped +4.8% m/m, implying three months of m/m expansion adding to optimism for German IP in the upcoming months.
- February production increased across goods categories and across most sectors, led by strong auto production (+7.6% m/m). Strong auto sector performance was also highlighted by yesterday's French data.
- Germany's energy-intensive branches saw another expansion in February (+1.9%) after bouncing in January, assisted by falling energy prices and the introduction of price caps.
- After yesterday's upside surprise to French and Spanish IP, tentative signs of a robust February aggregate print are emerging.
- Looking forward, the underlying health of the German industrial sector looks uncertain. Despite supply issues and energy price pressures easing, PMI data suggests that production levels remain elevated due to backlogs, whilst new order demand continues to wane.
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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