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| German Industrial Orders Recover For Feb. 2017 | |
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| Tweet Topic Started: Apr 6 2017, 09:54 AM (10 Views) | |
| Webster | Apr 6 2017, 09:54 AM Post #1 |
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Wasatch Storyteller & Resident Forum Curmudgeon
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(The Guardian) German industrial orders recover --We’ve already had some fairly positive news from the eurozone, with German factory orders rising in February after a sharp decline in the previous month. New orders climbed by 3.4% month on month after the surprise 6.8% drop in January, although it was still below expectations of a 4% increase. ING economist Carsten Brzeski said: The increase in new orders was exclusively driven by stronger domestic demand. Foreign demand remained stable. A bit worrisome is the fact that new orders from other Eurozone countries have dropped for the second consecutive month. The surge in new orders from other Eurozone countries at the end of last year has now entirely vanished into thin air, adding a slightly disappointing note to the current picture of a Eurozone recovery. Obviously, new orders have always been volatile but the fluctuations and size of volatility since late-summer have been almost unprecedented. German order books seem to be extremely moody, reacting sensitively to seasonal and weather moods. Looking through this high volatility, the trend for order books is slightly positive, though still not as positive and strong as current confidence indicators are suggesting. |
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| Webster | Apr 6 2017, 10:05 AM Post #2 |
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Wasatch Storyteller & Resident Forum Curmudgeon
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(The Guardian) German construction and retail sales data rise --After reasonable industrial orders figures from Germany earlier, come positive construction and retail sales numbers. According to Markit, the German construction PMI climbed from 54.1 in February to 56.4 last month as optimism hit a record high. This was the strongest rise in construction activity since February 2016, said Markit. ![]() Meanwhile Markit said the retail PMI rose from 51.2 in February to 52.5 in March. Its senior economist Trevor Balchin said: The German retail sector continued to recover in March from a weak start to the year. Sales rose at the fastest monthly rate since last September, and returned to growth on the year-on-year measure. The latest survey results also signalled a trend of destocking in the retail sector at the end of the first quarter on a seasonally-adjusted basis, the first contraction in warehouse levels since January 2016. This partly reflected further strong upward pressure on purchase prices as firms looked to protect margins.
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