Germany: New industrial orders dropped by 4.2% - ING
|Carsten Brzeski, chief economist at ING, points out that in February, new industrial orders dropped by a painful 4.2% MoM, from a slightly upwardly-revised 2.1% MoM drop in January.
Key Quotes
“On the year, new orders were down by 8.4%. In particular, new orders from non-Eurozone countries fell by 7.9% MoM, probably reflecting Brexit woes and continued global uncertainties.”
“Admittedly, monthly industrial order data are highly volatile but today’s new orders were simply awful.”
“Today’s sharp drop in new orders clearly undermines latest tentative signs of a rebound in global activity in the first quarter of 2019. Maybe February was simply too early to feel the rebound. This is the positive reading. The negative reading is that the German industry should prepare for more bad news.”
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.