Analysts at TD Securities suggest that German manufacturing has posted increases in 3 of the last 4 months, but they are looking for decline in April of 0.6% m/m (consensus: -0.5%) largely on the back of weak China IP in the month as well as continued effects of deteriorating confidence.
Key Quotes
“We do note heightened divergence between surveys and hard data recently, so it’s possible the drag from the weak PMIs is somewhat lower.”
“Nowotny speaks at 9am BST.”
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