Economic Buzz: German Industrial Production Recovers In January

This is source I found from another site, main source you can find in last paragraph

German economic data has been unquestionably bad in recent days.

Earlier Thursday, we learned industrial production unexpectedly fell 0.5% year-over-year in June, missing expectations for a 0.3% gain. This was the first year-over-year decline since July 2013.

"June's year-over-year reading confirms the German industry is decelerating from a 5% annual growth peak reached in January," Bloomberg's Maxime Sbaihi and Niraj Shah said in a piece titled "No End in Sight for the German Industrial Slowdown."

"[T]he pace deceleration is worrying with the crisis in Ukraine adding further weakness," Pantheon Macroeconomics' Claus Vistesen said.

This report came hours before Russia announced a sweeping ban on food imports from the European Union.

Markets are down modestly in Europe, with Germany's DAX down by 0.1%.

The industrial production report follows Wednesday's horrific factory orders report, which showed that orders unexpectedly plunged 3.2% month-over-month in June. Economists were expecting a 0.9% gain.

"Growth in new orders slumped at its fastest rate since September 2011, and the annual growth rate fell back to -4.3%," Vistesen said Wednesday. "The German statistical office reports that while domestic orders remained unchanged, new orders from the euro area fell an astonishing -10.4% from the previous month. "

Vistesen noted that all these numbers could be volatile and that Germany recovered from similar economic hiccups in 2003 and 2004.

"[B]ut if the smoothed growth rate drops below zero, it would be a clear sign of warning," he said.

Industrial production GermanyPantheon Macroeconomics

This is source I found from another site, main source you can find in last paragraph

Source : http://www.businessinsider.com/german-economic-data-astonishingly-bad-2014-8

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