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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 MAR IND PROD -3.4% M/M (FCST -1.5%); FEB +2.1%r M/M
GERMANY MAR IND PROD +1.8% Y/Y (= FCST); FEB +0.7%r Y/Y
- After March factory orders saw a marked drop, German IP contracted by -3.4% m/m in March, sharper than the -1.5% m/m decrease anticipated by consensus.
- In aggregate, total Q1 German industrial production rose +2.5% q/q.
- After driving the February expansion, automotive production fell back again in March (-6.5% m/m).
- Further declines were recorded in machinery and equipment (-3.4% m/m) and construction (-4.6% m/m).
- Looking forward, the April manufacturing PMI signalled continued headwinds to demand, as firms reduce stock levels and overall purchasing hesitancy prevails.
- Yet Destatis flagged backlogs being sufficient for 7.5 months of continued production in the latest February data, implying overall production will be buffered for now despite waning demand.
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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