6
0
Euroland: Terrifying slump in German manufacturing orders
Fri, Dec 5 2008, 15:14 GMT
by Søren Dijohn
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
Weekly Focus - Is it strong enough? by Danske Bank A/S
Fri, Jul 3 2009, 15:00 GMT
Weekly Market Commentary - Libor and Official Interest rates are at their narrowest by Mizuho Corporate Bank
Fri, Jul 3 2009, 14:33 GMT
Your Summer Housing Market Update by Money and Markets
Fri, Jul 3 2009, 12:39 GMT
Friday Notes - W-shaped recovery increasingly probable by UniCredit Group
Fri, Jul 3 2009, 12:08 GMT
Asia Market Update - Most Asian equities indices track the US session declines as nonfarm payrolls data disappoints by TradeTheNews.com
Fri, Jul 3 2009, 11:55 GMT
Related content
2nd UPDATE: UK Service Sector Grows, End Of Recession Nears
Dow Jones | Fri, Jul 3 2009, 10:15 GMT
UPDATE: UK Service Sector Grows, But Slows In June
Dow Jones | Fri, Jul 3 2009, 09:43 GMT
CORRECT: DATA SNAP:Euro-Zone Jun Output Decline Slows Further
Dow Jones | Fri, Jul 3 2009, 09:39 GMT
UPDATE: Euro-Zone Output Decline Slows Further In June
Dow Jones | Fri, Jul 3 2009, 09:30 GMT
Euro Zone May Retail Sales fall 0.4% MoM and 3.3% YoY
FXstreet.com | Fri, Jul 3 2009, 09:06 GMT
Interested in forex trading? forex brokerage firms!
GET CASH BACK FOR YOUR TRADES! Learn more about the Pip Rebate Program
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.