How Energy Crisis Affects German PMI August 23, 2022, 10:30 GMT+3 Germany will publish Flash Manufacturing PMI data on Tuesday, August 23, at 10:30 MT time (GMT+3)…
German industrial output tacks on, indicating a healthy 2018
In November, industrial output and exports from Germany rallied more than anticipated, helping the authorities to lift its estimate of surge for the previous year and also indicating that its expansion would carry on in 2018.
Industrial output inched up 3.4% for the month, which is the biggest soar since September 2009, as the Federal Statistics Office informed on Tuesday, surpassing a 1.8% estimate in a Reuters survey.
November’s seasonally adjusted exports added 4.1% on the month, while domestic demand enabled imports to gain 2.3%. Both figures exceeded Reuters estimates, also extended the trade surplus to about 22.3 billion euros from October’s 19.9 billion euros.
The figures and also buoyant business sentiments drops a hint that the German economy concluded 2017 with a bang, following the third quarter's huge 0.8% expansion, as some financial experts pointed out.
Right after the data, the German authorities raised its 2017 surge estimate to 2.2% from a previous forecast of 2%.
Main news that will drive the market in the upcoming week include CB Consumer Confidence Index, Canadian GDP, and US Core PCE Price Index
The Federal Reserve (Fed) will announce its Interest Rate Decision and make a statement about the future monetary policy on Wednesday, September 21, GMT+3. After the higher-than-expected inflation numbers published on September 13, there’s almost no doubt the Federal Reserve will come up with another 75-basis-point rate hike. However, surprised by the CPI numbers, several Fed members announced the possibility of a 100-basis-point rate hike on Wednesday.
Every week we expect many interesting events that can shake the market.