FOREX TradingCharts.com

Financial News: German Production Surprise Growth Raises Hopes Of Strong

German Production Surprise Growth Raises Hopes Of Strong Q1 GDP Outcome

05/08/2019 - 05:11:00 (RTTNews)

(RTTNews) - Germany's industrial production rose for a second straight month and at the fastest pace in three months in March, defying expectations of a decline, and raised hopes of a strong economic performance in the first quarter.

Industrial production grew 0.5 percent monthly following a 0.4 percent increase in February, which was revised from 0.7 percent, preliminary data from the Federal Statistical Office showed on Wednesday. Economists had forecast a 0.5 percent slump. The surprise growth in production came after news that factory orders rebounded in March, albeit at a slower-than-expected pace.

Factory orders grew 0.6 percent from February, when they fell 4 percent. Economists had forecast a 1.5 percent increase in orders in March. Without major orders, factory orders decreased 1.9 percent from the previous month.

Elsewhere, the purchasing managers' survey showed that the contraction in the German manufacturing sector eased slightly in April. "Clearly, this is too little to give anything like an all-clear for industrial production in the months ahead," ING economist Carsten Brzeski said. Production decreased 0.9 percent year-on-year after a 0.2 percent rise in February. Economists had expected a 2.7 percent fall. Excluding energy and construction, industrial production rose 0.4 percent monthly in March. Output of intermediate goods grew 0.4 percent and those of consumer goods climbed 1.1 percent. Capital goods production was unchanged. Energy production rose 0.3 percent and construction output increased 1 percent. "Despite many rather pessimistic headlines on the German economy and a series of downward revisions of 2019 growth, the first quarter might actually surprise to the upside," Brzeski said. "The eurozone economy already surprised positively with 0.4% quarter-on-quarter GDP growth in the first quarter. It looks as if Germany could return as the best student in class next week."

The statistical office is set to release the preliminary estimates for the first quarter growth on May 15. Gross domestic product was unchanged in the final three months of 2018, thus the biggest euro area economy narrowly escaped a technical recession.

For comments and feedback: contact editorial@rttnews.com

Copyright(c) 2019 RTTNews.com. All Rights Reserved

Market News provided by RTTNews

RECENT INTERNATIONAL FINANCIAL NEWS


Eurozone Consumer Confidence At 7-month High In May (07 hr(s), 33 min(s), 33 sec(s) ago)
(RTTNews) - Eurozone consumer confidence rose more-than-expected in May to its highest level in se ...Full Story»

U.S. Existing Home Sales Unexpectedly Dip 0.4% In April (07 hr(s), 42 min(s), 33 sec(s) ago)
(RTTNews) - Existing home sales in the U.S. unexpectedly showed a modest decrease in the month of ...Full Story»

Capital Economics: Pick-up In German Growth Only Likely On Demand Recovery (07 hr(s), 57 min(s), 33 sec(s) ago)
(RTTNews) - Recent production slowdown in the German economy was broad-based, extending beyond the ...Full Story»

OECD Trims Global Growth Outlook On Trade Disputes (09 hr(s), 07 min(s), 33 sec(s) ago)
(RTTNews) - The Organization for Economic Co-operation and Development lowered the 2019 global gro ...Full Story»

Slovenia Output Prices Rise In April (10 hr(s), 52 min(s), 33 sec(s) ago)
(RTTNews) - Slovenia output prices rose in April, figures from the Statistical Office of the Repub ...Full Story»

UK Manufacturing Orders Lowest Since Late 2016: CBI (11 hr(s), 12 min(s), 33 sec(s) ago)
(RTTNews) - UK manufacturing orders hit its lowest level since October 2016, the Industrial Trends ...Full Story»

Thailand Cuts Outlook After Economy Logs Weakest Growth Since 2014 (12 hr(s), 22 min(s), 33 sec(s) ago)
(RTTNews) - The Thai economy grew at the slowest pace in more than four years in the first quarter ...Full Story»

OECD Downgrades 2019 Global Growth Projection (12 hr(s), 35 min(s), 33 sec(s) ago)
(RTTNews) - The Organization for Economic Co-operation and Development downgraded the global growt ...Full Story»

Search

INTERNATIONAL FINANCIAL NEWS

Eurozone Consumer Confidence At 7-month High In May

05/21/2019 - 10:30 AM (RTTNews)
(RTTNews) - Eurozone consumer confidence rose more-than-expected in May to its highest level in se ...Full Story>>

U.S. Existing Home Sales Unexpectedly Dip 0.4% In April

05/21/2019 - 10:21 AM (RTTNews)
(RTTNews) - Existing home sales in the U.S. unexpectedly showed a modest decrease in the month of ...Full Story>>

Capital Economics: Pick-up In German Growth Only Likely On Demand Recovery

05/21/2019 - 10:06 AM (RTTNews)
(RTTNews) - Recent production slowdown in the German economy was broad-based, extending beyond the ...Full Story>>

OECD Trims Global Growth Outlook On Trade Disputes

05/21/2019 - 08:56 AM (RTTNews)
(RTTNews) - The Organization for Economic Co-operation and Development lowered the 2019 global gro ...Full Story>>

Slovenia Output Prices Rise In April

05/21/2019 - 07:11 AM (RTTNews)
(RTTNews) - Slovenia output prices rose in April, figures from the Statistical Office of the Repub ...Full Story>>
Copyright © 2019. All market data is provided by Barchart Solutions. Information is provided "as is" and solely for informational purposes, not for trading purposes or advice. To see all exchange delays and terms of use, please see disclaimer.