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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 SEP PPI +2.3% M/M (FCST +1.5%); AUG +7.9% M/M
GERMANY SEP PMI +45.8% Y/Y (FCST +45.4%); AUG +45.8% Y/Y
- German PPI plateaued at the record high of +48.5% y/y in September, with factory prices accelerating by +2.3% m/m alone. This was less stark than the record +7.9% m/m jump recorded in August.
- Energy prices continue to be the key driver, having over-doubled at +132.2% y/y in September.
- High energy costs are spilling over into prices for other goods, which alongside continued supply issues saw prices increase in a broad-based manner. PPI excluding energy rose +0.4% m/m and +14.0% y/y, in line with August rates.
- Soaring factory-gate inflation in September will likely drive another weak September print for German industrial production. Relentlessly high energy prices saw energy-intensive production drop by 8.6% from February to August.
- As this trend continues, the struggling industrial sector will generate further substantial downside risks for the German economy.
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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