German Industrial Production Recovers On Automobiles; Exports Disappoint

RTTNews | 333 dias atrás
German Industrial Production Recovers On Automobiles; Exports Disappoint

(RTTNews) - Germany's industrial output rebounded in June on automobile production, while exports posted a sharper-than-expected decrease amid a moderate rise in imports, pushing the trade surplus down, official data revealed Wednesday.

Industrial output grew 1.4 percent on month in June, partially offsetting the revised 3.1 percent rise in May, Destatis reported. Production was expected to climb 1.0 percent.

The growth was largely driven by the 7.5 percent increase in the automobile industry after the sector posted a sharp 9.9 percent fall in May. An increase of 5.2 percent in the manufacture of electrical equipment also had a positive effect. On the other hand, the food industry contracted 5.3 percent.

Production of capital goods grew 2.5 percent and that of intermediate goods climbed 2.1 percent. Meanwhile, consumer goods output fell 2.4 percent.

Excluding energy and construction, industrial production advanced 1.5 percent. Energy output gained 2.9 percent, while construction output grew only 0.3 percent.

On a yearly basis, industrial production logged a 4.1 percent drop, slower than May's 7.2 percent decrease.

Another report from Destatis showed that exports decreased by more-than-expected 3.4 percent month-on-month in June after easing 3.1 percent in May. This was the second consecutive decrease. Exports were forecast to fall 1.5 percent.

Meanwhile, imports gained 0.3 percent, in contrast to the 5.5 percent decline in May. Economists had forecast imports to advance 2.8 percent.

Consequently, the trade surplus declined to EUR 20.4 billion from EUR 25.3 billion in the prior month. The surplus was also below forecast of EUR 23.5 billion. On a yearly basis, the decline in exports deepened to 8.3 percent from 3.3 percent. Imports fell 9.3 percent, but slower than the 10.3 percent decrease in May.

Falling exports point to ongoing structural weaknesses, while the increase in industrial production keeps hopes alive of at least a meagre industrial rebound in the second half of the year, ING economist Carsten Brzeski said.

The economist observed that with both the US and the Chinese economies losing momentum, along with new trade tensions, there is very little hope for a strong export-driven recovery.

Data released on Tuesday showed that industrial orders rebounded 3.9 percent in June due to the significant improvement in the auto industry.

The largest euro area economy had contracted 0.1 percent in the second quarter, reversing the first quarter's 0.2 percent expansion.

The International Monetary Fund projected the German economy to grow only 0.2 percent this year and 1.3 percent in 2025.

Etiquetas: EUR
read more
German Factory Orders Log Bigger-Than-Expected Fall

German Factory Orders Log Bigger-Than-Expected Fall

Germany's factory orders declined more than expected in May on falling demand from both the domestic market and other euro area economies, official data revealed on Friday. Factory orders decreased 1.4 percent from a month ago, Destatis reported. Orders were expected to drop 0.2 percent after an upwardly revised 1.6 percent rise in April. Orders declined for the first time in four months.
RTTNews | 2 dias atrás
Eurozone Private Sector Expands More Than Estimated

Eurozone Private Sector Expands More Than Estimated

The euro area private sector expanded more than previously estimated in June as both manufacturing and services sectors registered higher output, final survey results from S&P Global showed on Thursday. The HCOB final composite output index advanced to 50.6 in June from 50.2 in May. The reading was well above the flash estimate of 50.2.
RTTNews | 3 dias atrás
Eurozone Inflation Hits ECB Target

Eurozone Inflation Hits ECB Target

Euro area inflation rose slightly to hit the European Central Bank's 2 percent target in June on slower fall in energy prices and the rise in services inflation, flash estimate from Eurostat showed on Tuesday. Annual inflation climbed to 2.0 percent in June from 1.9 percent in May. The rate reached the inflation target and also matched economists' expectations.
RTTNews | 5 dias atrás
Eurozone Manufacturing Sector Contraction Slows In June

Eurozone Manufacturing Sector Contraction Slows In June

Eurozone manufacturing activity contracted at a slower pace in June as output showed a sustained expansion and total new work stabilized ending a 37-month period of decline, final survey data from S&P Global showed on Tuesday. The HCOB manufacturing Purchasing Managers' Index posted 49.5 in June, up from 49.4 in May. This was the highest score since August 2022.
RTTNews | 5 dias atrás
Eurozone Household Lending Grows Most In 2 Years

Eurozone Household Lending Grows Most In 2 Years

Lending to euro area households grew the most in two years in May and overall private sector credit growth remained stable, data from the European Central Bank revealed on Monday. Adjusted loans to households increased 2.0 percent year-on-year in May, the strongest since May 2023, when it was up 2.1 percent. Meanwhile, loans to businesses grew 2.5 percent from a year ago.
RTTNews | 6 dias atrás
Eurozone Economic Sentiment Falls Unexpectedly

Eurozone Economic Sentiment Falls Unexpectedly

Eurozone economic sentiment weakened unexpectedly in June primarily driven by reduced confidence in industry and retail trade, a monthly survey data from the European Commission showed on Friday. The economic confidence index fell to 94.0 in June from 94.8 in May. The score was forecast to rise to 95.1. The industrial confidence index posted -12.0 in June, down from -10.4 a month ago.
RTTNews | 9 dias atrás
French Inflation Accelerates In June

French Inflation Accelerates In June

France's inflation accelerated more than expected in June largely due to higher services costs but the overall rate remained below the 2 percent target, preliminary estimate from the statistical office INSEE showed on Friday. Consumer prices increased 0.9 percent year-on-year in June, faster than the 0.7 percent rise in May. The rate was forecast to remain unchanged at 0.7 percent.
RTTNews | 9 dias atrás