Carsten Brzeski, chief economist at ING Germany, offered his take on Monday's German industrial production figures and said that the data sent tentative signs of life in May. The rebound in industrial production suggested that the economy is not falling off a cliff, though the relief is too feeble to justify any optimism.
“The fact that German industry has not fallen off a cliff unfortunately does not mean that any rebound is in the cards in the near term. The order book deflation, as well as inventory build-up, is a strong warning against too much optimism. Even worse, today’s industrial data suggests that, at least for the second quarter, the German economy is running out of powerful growth engines. For the ECB, today’s data will not yet flip the coin on whether to deliver a pre-emptive rate cut at the July meeting. The data was not bad enough to panic but definitely not good enough to lean back and enjoy the summer.”
© 2000-2020. All rights reserved.
This site is managed by Teletrade D.J. Limited 20599 IBC 2012 (First Floor, First St. Vincent Bank Ltd Building, James Street, Kingstown, St. Vincent and the Grenadines).
The information on this website is for informational purposes only and does not constitute any investment advice.
Making transactions on financial markets with marginal financial instruments opens up wide possibilities and allows investors who are willing to take risks to earn high profits, carrying a potentially high risk of losses at the same time. Therefore you should responsibly approach the issue of choosing the appropriate investment strategy, taking the available resources into account, before starting trading.
Use of the information: full or partial use of materials from this website must always be referenced to TeleTrade as the source of information. Use of the materials on the Internet must be accompanied by a hyperlink to teletrade.org. Automatic import of materials and information from this website is prohibited.
Please contact our PR department if you have any questions or need assistance at firstname.lastname@example.org.