The Federal Statistical Office has just published data on industrial production (production in the manufacturing sector) for the month of October. Compared to October 2018, it has declined by 5.3% (in the previous month it was -4.5%). Most of the major press publications pay attention to the monthly comparison, i.e. from September to October 2019. Here there is a strong drop of 1.7%, although a plus of 0.1% was expected. Yesterday we discussed the most recent new orders, which are also extremely weak at -5.5% year-on-year. So, the strong industrial recession continues full steam ahead.
The ZEW Index (January; economic expectations) turned out better than expected at 26.7 (forecast was +15.0; previous month was 10.7). The assessment of the current situation is -9.5 (forecast was -13.5; previous month was -19.9). […]
It couldn’t be clearer: Euro zone industrial production declines significantly for the 9th month in a row
A few minutes ago, industrial production in the euro zone was published at -2% year-on-year for the month of July (expected -1.3%). As the following chart shows, this is the 9th month in a row […]
What is important is that this is not a question of monthly comparisons. It is the more meaningful comparison with the same month last year! The Federal Statistical Office reports today for the month of […]