German Industrial Production Declines In March

RTTNews | 38 days ago
German Industrial Production Declines In March

(RTTNews) - Germany's industrial production declined for the first time in three months in March driven by the decreases in consumer and intermediate goods output, official data revealed Wednesday.

Industrial production declined 0.4 percent on a monthly basis, in contrast to the 1.7 percent increase in February, Destatis reported. This was the first drop so far this year and the pace of decline was less severe than the expected 0.6 percent fall.

In the first quarter, industrial output was 1.0 percent higher than in the previous three months.

Excluding energy and construction, industrial production dropped 0.4 percent from the previous month. Energy output posted a monthly fall of 4.2 percent, while production in construction grew 1.0 percent.

Capital goods output edged up 0.1 percent. Meanwhile, consumer goods output fell 1.4 percent and intermediate goods production dropped 0.6 percent.

The annual decline in industrial production slowed to 3.3 percent in March from 5.3 percent in the previous month.

Data released on Tuesday showed that factory orders slid 0.4 percent on a monthly basis, confounding expectations for an increase of 0.4 percent.

Nonetheless, the pace of decrease slowed from February's revised 0.8 percent drop.

Last week, official data confirmed that the largest euro area economy avoided a recession in the first quarter on exports and investment in construction.

Gross domestic product grew 0.2 percent, reversing a 0.5 percent fall a quarter ago.

ING economist Carsten Brzeski said today's data affirmed that construction activity boosted the first quarter GDP growth.

"The cyclical downswing has come to an end and optimism is back," said Brzeski. "However, the road to a substantial recovery, particularly in industry, remains long," the economist added.

read more
Eurozone Industrial Output Falls Unexpectedly In April

Eurozone Industrial Output Falls Unexpectedly In April

Eurozone industrial production dropped unexpectedly in April on falling intermediate goods output, official data showed Thursday. Industrial output logged a monthly fall of 0.1 percent, marking the first drop in three months, Eurostat said. Production was forecast to grow 0.2 percent after rising 0.5 percent in March.
RTTNews | 2 days ago
ECB's Lane Says Restrictive Monetary Stance Must Be Maintained

ECB's Lane Says Restrictive Monetary Stance Must Be Maintained

The European Central Bank, which last week cut interest rates for the first time in five years, will have to maintain a tight policy stance given the high uncertainty and sticky inflation in the euro area, the bank's chief economist Philip Lane said Tuesday.
RTTNews | 4 days ago
Lagarde Says ECB May Hold Rates Steady For More Than One Meeting

Lagarde Says ECB May Hold Rates Steady For More Than One Meeting

Eurozone interest rates are likely to remain unchanged for sometime as the European Central Bank President Christine Lagarde said restrictive policy has not ended and the bank may wait several meetings before easing rates again. Interest rates may not follow a linear downward path, Lagarde said in Paris in a joint interview to several European newspapers.
RTTNews | 5 days ago
Eurozone Investor Confidence Highest Since Early 2022

Eurozone Investor Confidence Highest Since Early 2022

Euro area investor sentiment continued its recovery trend in June to hit the highest since early 2022 but the momentum remained weak as the economy still struggle to reach the level that prevailed before the outbreak of the war in Ukraine. The economic confidence index rose to +0.3 in June from -3.6 in May. The reading was forecast to remain negative in June, at -1.5.
RTTNews | 5 days ago
Eurozone Economy Recovers On Household Spending, Trade

Eurozone Economy Recovers On Household Spending, Trade

The euro area economy recovered as initially estimated in the first quarter, driven by household spending along with favorable net exports, the latest data from Eurostat showed on Friday. Gross domestic product grew 0.3 percent sequentially, reversing the 0.1 percent fall in the final quarter of 2003. The rate confirmed the second estimate published on May 15.
RTTNews | 8 days ago
German Industrial Output Logs 0.1% Fall; Exports Rise

German Industrial Output Logs 0.1% Fall; Exports Rise

Germany's industrial production registered a marginal fall on falling construction output, while growth in both exports and imports accelerated more than expected, official data revealed on Friday. Industrial output edged down 0.1 percent on a monthly basis in April, Destatis said Friday. This follows a 0.4 percent drop in March. Although the pace of decrease softened from March.
RTTNews | 8 days ago
ECB Cuts Rates By 25 Bps As Expected On Improving Inflation Outlook

ECB Cuts Rates By 25 Bps As Expected On Improving Inflation Outlook

The European Central Bank lowered interest rates by a quarter basis point on Thursday, in line with expectations, citing an improvement in the inflation outlook. The Governing Council, led by ECB President Christine Lagarde, cut the main refinancing rate by 25 basis points to 4.25 percent.
RTTNews | 9 days ago
German Manufacturing Orders Log Surprise Fall

German Manufacturing Orders Log Surprise Fall

Germany's factory orders posted an unexpected decline in April on sharp reduction in large-scale orders, data from Destatis showed on Thursday. Factory orders dropped 0.2 percent month-on-month in April, confounding expectations for an increase of 0.3 percent. Orders had declined over the last four months. Nonetheless, the latest pace of decline was slower than the revised 0.8 percent fall pos
RTTNews | 9 days ago