Sunday, June 7, 2009

EMU Economic Indicators Preview (Week of 8 to 14 June 2009)

  • German industrial new orders (April): down
  • Output in the German producing sector (April): decrease likely
  • EMU industrial production (April): further decline

German industrial new orders, which had soared unexpectedly in March, are likely to have suffered a setback in April. Although most of the correlated climate indicators improved, machinery orders plummeted, according to VDMA, the German Engineering Federation.

Output in the German producing sector will probably have decreased in April, just like the ifo Institute's current assessment of the situation in the manufacturing sector.

For similar reasons, French, Italian and EMU industrial production could have continued declining in

April. Italian GDP growth in Q1 2009 is unlikely to be revised significantly. Following the usual seasonal pattern, the German trade balance and current account will probably have deteriorated in April.


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