MNI: GERMAN DATA: Industrial Orders (Feb 2019).......>

MNI: GERMAN DATA: Industrial Orders (Feb 2019) Preview - 07:00 BST

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- Bloomberg Consensus: 0.3% m/m, -3.1% y/y; MNI Median: 0.3% m/m, -3.2% y/y;

Previous (Jan): -2.6% m/m, -3.9% y/y

- Factory orders are projected to have grown at their series average pace (0.3%

m/m) in February after posting their biggest drop in seven months in January

- A breakdown of January's data showed cross-sector weakness...

-...orders for capital, consumer & intermediate goods were all down

- Both domestic (-1.2%) and foreign orders (-3.6%) declined on the month...

- ...with the bulk of the external weakness driven by a slump in demand from

outside the Eurozone (-4.2%)

- Manufacturers continue to struggle with lower demand linked to Brexit, trade

uncertainty, a softer global backdrop and ongoing auto sector difficulties

- VDMA data shows that mechanical engineering orders slumped by 10% y/y in Feb

- Further declines in the EC's industrial sentiment indicator & the

manufacturing PMI in Feb & March inspire little hope of an imminent turnaround