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German Industrial Production - Economic Data Preview
Monday, 08 December 2008 04:17:04 GMT
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German Industrial Production is expected to continue to feel the brunt of cooling global demand, falling -2.7% in the year through October, the most in over 6 years. Industrial output is an important part of the Euro Zone’s largest economy, contributing over 30% to overall growth. Last week saw factory orders shrink a whopping -17.3% in the same period as sluggish performance around the world eats into overseas demand for German manufactured goods, the top export area. With global growth continuing to cool, the troubled sector may find a bit of support if currency depreciation continues to make German goods relatively cheap for overseas buyers. DailyFX Chief Strategist Antonio Sousa expects the Euro to continue to lose value through 2009.
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