Peter Vanden Houte, chief economist at ING, notes that the German industrial production unexpectedly expanded by 0.3% in August, defying the consensus forecast for a -0.1% decline. Key Quotes “Manufacturing output rose 0.7%, compensating for the 0.6% decline in July, while construction output shrank 1.5%. Year-on-year, industrial production fell by 4%, unchanged from July.” “This is finally some good news coming from the biggest economy in the eurozone. However, there is no reason to get overexcited. Industrial production is always volatile during the summer months, so September will be more important to assess whether we can really talk about a trend reversal.” “With the drop in export orders, one of the main culprits of the weakness in manufacturing, it is obvious that German industry remains extremely sensitive to further developments in the trade war.” “We believe that at the beginning of next year, additional budgetary stimulus might be put in place, paving the way for an economic upturn in the course of 2020.” FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next EUR/USD probes daily highs, still below 1.10 FX Street 3 years Peter Vanden Houte, chief economist at ING, notes that the German industrial production unexpectedly expanded by 0.3% in August, defying the consensus forecast for a -0.1% decline. Key Quotes "Manufacturing output rose 0.7%, compensating for the 0.6% decline in July, while construction output shrank 1.5%. Year-on-year, industrial production fell by 4%, unchanged from July." "This is finally some good news coming from the biggest economy in the eurozone. However, there is no reason to get overexcited. Industrial production is always volatile during the summer months, so September will be more important to assess whether we can really talk about a… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
