EMU Economic Indicators Preview (Week of 7 to 13 December 2009)

• German industrial new orders (October): up
• Output in the German producing sector (October): more or less unchanged

German industrial new orders will probably have picked up again in October, as most of the correlated indicators improved. However, output in the German producing sector might have suffered a setback in October, after having soared unexpectedly the previous month. Following their usual seasonal pattern, the German trade balance and current account could have improved in October.

French and Italian industrial production, which had plummeted unexpectedly in September, could have rebounded in October, because most of the correlated climate indicators went up. Italian Q3 GDP is unlikely to be revised significantly.

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