Rolling coverage of the latest economic and financial news, as anxieties of a world slowdown continue to weigh on markets
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European stock markets have to decline in early trading, as investors digest this morning’s German factory data.
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Angela Merkel’s government can expect more calls to boost spending, to support the struggling German economy.
Thomas Gitzel, economist at VP Bank Group, clarifies( via Reuters ):
“The German economy is in the midst of a recession. Today’s
data make that clear again.
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Martin Enlund, director foreign exchange strategist from Nordea, fears that German factory orderings will keep slumping in the coming months.
He points out that they are closely aligned to the IFO business climate index, which has also weakened alarmingly in recent months 😛 TAGEND
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Christophe Barraud, manager economist at Market Protection, says the ongoing slump in German factory orders does not bode well for the global economy 😛 TAGEND
#GERMANY AUG FACTORY ORDERS Y/ Y: -6. 7% V -6. 4% E( 15 th straigth; largest since May 2019) It had confirmed that world busines growth will remain under pressure in the short term. pic.twitter.com/ tt2GvxHacw
German factory orders for August show the industrial sector languishing near recent lows( -6. 7% yoy v -5. 0% in July and a recent low-pitched of -8. 4% in May ).
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Good morning, and therefore welcomed our rolled coverage of the world economy, the financial markets, the eurozone and business.
Domestic orderings decreased by 2.6% and foreign orders enhanced by 0.9% in August 2019 on the previous month. New orderings from the euro area were up 1.5%, brand-new orders from other countries rose 0.4% compared to July 2019.
Based on provisional data, the Federal Statistical Office( Destatis) reports that price-adjusted new orders in #manufacturing had decreased in August 2019 a seasonally and calendar adjusted 0.6% on the previous month. https :// t.co/ BjCTzYez5f pic.twitter.com/ 3lmbuoh8mx
Read more: theguardian.com