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

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MNI: GERMAN DATA: Industrial Orders (May 2019) Preview - 07:00 BST
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- Bloomberg Consensus: -0.2% m/m, -6.2% y/y; MNI Median: -0.2% m/m, -6.3% y/y;
Previous (Apr): 0.3% m/m, -5.3% y/y
- After slumping m/m in Jan (-2.1%) and Feb (-4.0%), German industrial orders
staged a lacklustre rebound in Mar (+0.8%) and Apr (+0.3%)
- Markets anticipate renewed weakness in May (pencilling in a decline of 0.2%
m/m) and survey evidence supports these expectations
- The Ifo survey, for example, showed further falls in the assessment of order
intake in the manufacturing sector in both May & Jun
- Germany's manufacturing PMI, meanwhile, has continued to perform poorly in Q2,
weighed by further marked contractions in new orders...
- ... with exports sales in particular remaining a key weakness amid lower
demand from Asia and the general slowdown in global economic growth
- A further decline in orders in May would add to recent indications that the
German economy may have contracted slightly in Q2

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