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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 APR INDUST PROD +0.3% M/M (FCST +0.6%); MAR -2.1% M/M
GERMANY APR INDUST PROD +1.6% Y/Y (FCST +1.5%); MAR +2.3% M/M
- German industrial production recorded muted growth at +0.3% m/m in April, 0.3pp softer than consensus expectations. Production rose +1.6% y/y.
- This follows an expansionary French print (+0.8% m/m) and contractive Spanish (-1.8% m/m) so far in a mixed month for April eurozone production.
- German production across sectors was divergent: Construction rebounded (+2.0% m/m), pharmaceuticals jumped (+6.4%), whilst auto slumped (-0.8%) alongside engineering (-0.5%).
- The +1.5% m/m growth in consumer goods production outweighed soft declines in capital and intermediate goods.
- Headwinds to demand persist. German factory orders contracted for a second consecutive month in April, which alongside a sub-50 PMI and muted IFO expectations imply lacklustre production buffered by previous orders for now.
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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