MNI BRIEF: Fed Says All Largest 31 US Banks Pass Stress Tests

MNI BRIEF: Panetta Says ECB On Course For Inflation Target

MNI BRIEF: China Yuan Supported By Exports, Short Swing Sees

MNI BRIEF: RRR Trim A Better Option Than Rate Cut Now: BOC

MNI China Daily Summary: Wednesday, June 26

MNI DATA TABLE: MNI China Interbank Liquidity Index (Jun) - 1

US EIA: CRUDE OIL STOCKS EX SPR +3.59M TO 460.7M JUN 21 WK

MNI: US MAY NEW HOME SALES -11.3% TO 0.619M SAAR

EZ/UK Bond Supply Calendar: 5/10-year BTPs / CCTeu Due Thursday​

RPT-MNI: Canada Sticks To Fiscal Anchors, Spends Chunk Of Windfall

MNI BRIEF: Poilievre Calls QE 'Scam' And Would Limit BOC Remit

© 1982-2024 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

Weekly Index Suggests Continued Economic Expansion In Mid-Q2

GERMAN DATA
DataHomepagemarkets-real-timeData BulletBulletMarketsFixed Income BulletsForeign Exchange Bullets

The Bundesbank weekly activity index for the week of May 27 - June 2 came in at -0.1 (vs 0.0 prior, unrevised) and implies a quarterly GDP growth rate for Germany of +0.2% in the 13 weeks up to June 2 (on a rolling, 13 week/13 week basis).

  • After initially printing at low levels recently, the index has been consistently upwardly revised in subsequent releases, and now suggests activity expanded in mid-Q2 - a markedly brighter picture than the sharp contraction indicated about a month ago.
  • The WAI fluctuates around its long-term mean of 0. Positive values indicate above-average growth in real economic activity, while negative values signal a below average increase or a decline in economic output.
  • The index takes into account data on electricity consumption, truck mileage, flight activity, foot traffic, air pollution, credit card payments, as well as German google searches for "unemployment", "short-time work", and "state support".
  • The index is volatile and individual weekly readings should not be taken too seriously in isolation - though given the recent strength in incoming German economic activity data (see our German Macro Signal publication out last week), we are watching closely for confirmation of stronger growth going forward.

MNI, Bundesbank

210 words

To read the full story

Close

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.

The Bundesbank weekly activity index for the week of May 27 - June 2 came in at -0.1 (vs 0.0 prior, unrevised) and implies a quarterly GDP growth rate for Germany of +0.2% in the 13 weeks up to June 2 (on a rolling, 13 week/13 week basis).

  • After initially printing at low levels recently, the index has been consistently upwardly revised in subsequent releases, and now suggests activity expanded in mid-Q2 - a markedly brighter picture than the sharp contraction indicated about a month ago.
  • The WAI fluctuates around its long-term mean of 0. Positive values indicate above-average growth in real economic activity, while negative values signal a below average increase or a decline in economic output.
  • The index takes into account data on electricity consumption, truck mileage, flight activity, foot traffic, air pollution, credit card payments, as well as German google searches for "unemployment", "short-time work", and "state support".
  • The index is volatile and individual weekly readings should not be taken too seriously in isolation - though given the recent strength in incoming German economic activity data (see our German Macro Signal publication out last week), we are watching closely for confirmation of stronger growth going forward.

MNI, Bundesbank