Germany Archive

GDP, Trade, Personal income and outlays, Consumer sentiment, China deficit spending, 7DIF, US surveys, German business morale

Revised up but for the worst reasons possible- unsold inventories were higher. Also, consumption expenditures were a bit lower, and note the deceleration of GDP growth on the chart. And in all likelihood Q1 GDP is now being reduced by inventory liquidation substituting for production: GDP Highlights An upward revision to inventory ...Read More

Job Cuts, Yellen Comment, Saudi Pricing, German Factory Orders, Maersk Job Cuts, China Trade Show

Down a bit but still trending higher since the oil price collapse: Seems she still doesn’t realize negative rates are just another tax: FED’S YELLEN: IF ECONOMY SIGNIFICANTLY DETERIORATED, NEGATIVE RATES AND OTHER TOOLS WOULD BE ON THE TABLE This implies the rest of Saudi pricing remains the same from November, when ...Read More

Atlanta Fed, German Engineering Orders, Misc News, Redbook retail sales, North Dakota, Factory orders

Down to 1.9 for Q4, after being very close for Q1, Q2 and Q3: German Engineering Orders Hit by Lower Demand From China By Nina Adam Nov 2 (WSJ) — Germany’s VDMA engineering federation said Monday that its “plant and machinery makers are battling against global markets’ adversities.” German mechanical engineering orders ...Read More

German Trade, Japan

Exports down but so are imports, indicating a weak global economy and continued euro support from trade net flows: Germany : Merchandise Trade German exports plunge at fastest pace since global financial crisis Oct 8 (Reuters) — German exports plunged in August. Data from the Federal Statistics Office showed seasonally-adjusted exports sliding ...Read More

France PMI, Germany PMI, EU PMI, EU Retail Sales, UK service PMI, US Trade, ISM Non Manufacturing, Saudi Pricing

France : PMI Composite Highlights French private sector activity in August expanded at a significantly slower pace than indicated in the flash report according to the final PMI data for the month. At just 50.2, a 7-month low, the key composite output index was revised down an unusually large 1.1 points versus ...Read More

China, Germany, Productivity, NFIB Index, Redbook, Wholesale Trade

A few thoughts: China’s US Tsy holding had been falling perhaps because they were selling $ to buy Yuan to keep it within in the prior band. Pretty much all exporting nation’s currencies have already weakened vs the $, including the Yen and Euro, so this is a bit of a ‘catch ...Read More

NY manufacturing, Industrial Production, Housing index, Bundesbank comment

Nothing good here: Empire State Mfg Survey Highlights There’s no bounce at all in the Empire State manufacturing survey where the headline index sank to minus 1.98 in June, well below Econoday’s low-end forecast for 4.00 and the second negative reading in three months that pulls its second quarter average into the ...Read More

Atlanta Fed, LA port traffic, EU trade surplus, German ZEW, housing starts, redbook retail sales

No positive change here yet: This was supposed to rebound: LA area Port Traffic Decreased in April By Bill McBride May 18 (Calculated Risk) — Note: LA area ports were impacted by labor negotiations that were settled on February 21st. Port traffic surged in March as the waiting ships were unloaded (the ...Read More

global glympse

Germany : Retail Sales Highlights Retail sales followed a smaller revised 0.1 percent dip in February with a surprisingly hefty 2.3 percent monthly slump in March. The drop was the steepest since December 2013 but friendly base effects were enough to ensure that the first back-to-back decline since April/May 2014 still boosted ...Read More

GDP, Profits, German exports

Weaker than expected and Q1 forecasts still down, as the mainstream remains in denial that the oil price drop was a large negative for the US economy: GDP Atlanta Fed Q1 GDP forecast: Corporate Profits German exports generally increasing only to the US seems, which cuts into US output and employment as ...Read More