This report has been deactivated

6

0
Euroland: Terrifying slump in German manufacturing orders
Fri, Dec 5 2008, 15:14 GMT
by Søren Dijohn
Danske Bank A/S
Overview: The German manufacturing sector has experienced declining new orders over the past year, but what started off as a normal correction from very high levels has developed into serious collapse. German industrial orders dropped 6.1% m/m in October, corresponding to a 17.3% decline y/y. This are truly terrifying numbers. We have never seen anything as dramatic in German orders (with the exception of July 1977, which was due to a change in the summer holiday period), the closest being the declines in 1993 and around New Year 1973/74. Plummeting orders spell trouble not only for Germany but also for Europe as we mentioned in our June review of the German economy, see Germany: Recession looming.
Published on
Fri, Dec 5 2008, 15:15 GMT
Danske Bank
| Holmens Kanal 2-12, DK-1092 Copenhagen
http://www.danskebank.com/ | danskeresearch@danskebank.com
Legal disclaimer and risk disclosure
This publication has been prepared by Danske Bank for information purposes only. It is not an offer or solicitation of any offer to purchase or sell any financial instrument. Whilst reasonable care has been taken to ensure that its contents are not untrue or misleading, no representation is made as to its accuracy or completeness and no liability is accepted for any loss arising from reliance on it. Danske Bank, its affiliates or staff, may perform services for, solicit business from, hold long or short positions in, or otherwise be interested in the investments (including derivatives), of any issuer mentioned herein. Danske Bank's research analysts are not permitted to invest in securities under coverage in their research sector.
This publication is not intended for private customers in the UK or any person in the US. Danske Bank A/S is regulated by the FSA for the conduct of designated investment business in the UK and is a member of the London Stock Exchange.
Copyright () Danske Bank A/S. All rights reserved. This publication is protected by copyright and may not be reproduced in whole or in part without permission.
Related reports
Forex Market Alerts - USD/JPY, USD/CHF Flows - DPM Kan to keep close contact with BoJ; EUR/CHF eye SNB by FXMarketAlerts
Tue, Nov 24 2009, 03:13 GMT
Daily Forex Outlook - Gold Leads Fresh Rally by Easy Forex
Tue, Nov 24 2009, 03:03 GMT
Forex Market Alerts - NZD/USD, AUD/USD Flows - Higher yielders Aussie, Kiwi dip on risk aversion, stocks by FXMarketAlerts
Tue, Nov 24 2009, 02:28 GMT
Forex Technical Report - S&P Finishes Higher but Erases Most Day-Session Gains by ForexHound.com
Tue, Nov 24 2009, 00:57 GMT
Forex Technical Report - U.S. Dollar Reverses Early Session Weakness by ForexHound.com
Tue, Nov 24 2009, 00:55 GMT
indicator, germany
View All
Related content
China should strengthen capital controls- Govt economist
Forex Live | Tue, Nov 24 2009, 03:45 GMT
Emerging Market Central Banks Have Scope To Buy More Gold -BlueGold
Dow Jones | Tue, Nov 24 2009, 02:51 GMT
Forex: GBP/USD below 1.6600 as pound rally over
FXstreet.com | Tue, Nov 24 2009, 02:12 GMT
Australian Government sees additional expenditure on carbon trading scheme
Forex Live | Tue, Nov 24 2009, 01:21 GMT
Forex: EUR/USD rises as dollar weakens on housing news
FXstreet.com | Tue, Nov 24 2009, 01:08 GMT
indicator, germany
View All
Trading for a living » Some moves before CPI
Wed, Nov 18 2009, 09:46 GMT
The Advisor Weblog » Majors’s hourly perspective pre American session
Mon, Nov 16 2009, 15:46 GMT
The Advisor Weblog » Hourly perspective pre American opening
Fri, Nov 13 2009, 15:04 GMT
The Advisor Weblog » Starting the day
Fri, Nov 6 2009, 10:59 GMT
The Trader’s Edge » EUR/USD Non-Farm Payroll Analysis
Fri, Nov 6 2009, 08:23 GMT
indicator, germany
View All
SPECIAL EVENT: Trade Non-Farm Payrolls LIVE - 29th Edition
Wayne McDonell | Fri, Oct 3 2008, 11:30 GMT
Back to Basics: RSI
Adam Rosen | Mon, Oct 13 2008, 13:00 GMT
Dan Blystone's Daily Briefing
Dan Blystone | Wed, Oct 15 2008, 16:00 GMT
Dan Blystone's Daily Briefing - Free Access Day
Dan Blystone | Thu, Oct 16 2008, 16:00 GMT
Back to Basics: MACD
Adam Rosen | Wed, Oct 22 2008, 14:00 GMT
indicator, germany
View All
Note: All information on this page is subject to change. The use of this website constitutes acceptance of our
user agreement. Please read our
privacy policy and legal disclaimer.
Trading foreign exchange on margin carries a high level of risk and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to trade foreign exchange you should carefully consider your investment objectives, level of experience and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading and seek advice from an independent financial advisor if you have any doubts.
Opinions expressed at FXstreet.com are those of the individual authors and do not necessarily represent the opinion of FXstreet.com or its management. FXstreet.com has not verified the accuracy or basis-in-fact of any claim or statement made by any independent author: errors and Omissions may occur.
Any opinions, news, research, analyses, prices or other information contained on this website, by FXstreet.com, its employees, partners or contributors, is provided as general market commentary and does not constitute investment advice. FXstreet.com will not accept liability for any loss or damage, including without limitation to, any loss of profit, which may arise directly or indirectly from use of or reliance on such information.
©2009 "FXstreet.com. The Forex Market" All Rights Reserved.