Recent Updates

  • UK: UK Finance Mortgage and Consumer Lending (Jun)
  • Taiwan: Banking Deposits (Jun)
  • U.A.E.: Abu Dhabi GDP (Q1)
  • South Africa: CPI (Jun)
  • Saudi Arabia: WPI (Jun)
  • more updates...

Economy in Brief

German Industrial Production for January Adds to Doubts Over the Strength of the Recovery
by Louise Curley  March 9, 2004

German Industrial production in January declined 0.1% from December, 2003 as a result of mixed trends in the economy. Construction fell by 7.37%, while total production, excluding construction managed a slight gain of 0.40%. Within the manufacturing sector, capital goods production rose 1.53%, but production of consumer goods declined 0.31%.

The industrial production news follows other recent reports suggesting difficulties on the path to a strong business upturn in Germany. Although retail sales in January actually rose for the first time in three months, manufacturing new orders declined. In February, unemployment rose and business confidence declined.

Recent Reports on the Economic Climate in Germany (2000=100, ex where noted) Feb 04  Jan 04 Dec 03 Jan 03 Feb 03 M/M % Y/Y 
%
2003 2002 2001
Total Industrial Production    100.1 100.32 98.8   -0.10 1.32 98.6 98.3 99.7
  Total excl Construction   101.6 101.2 99.9   0.40 1.70 99.6 99.1 100.3
  Construction   81.7 88.2 85.2   -7.37 -4.44 85.1 88.9 92.4
  Capital goods   106.5 104.9 103.0   1.53 3.40 102.1 101.1 102.4
  Consumer goods   96.2 96.5 96.0   -0.31 0.21 95.3 97.0 99.2
                     
Manufacturing New Orders   100.7 102.8 99.7   -2.04 1.00 98.8 98.3 98.3
Retail Sales   101.3 99.0 101.5   2.32 -0.20 101.5 101.4 102.0
Unemployment (SA %) 10.3 10.2 10.4 10.3 10.5 0.1 -0.2 10.5 9.8 9.4
Business Confidence (IFO) 96.4 97.5 97.0 87.4 89.3 -1.13 7.95 91.7 89.4 92.1
close
large image