Global| Feb 08 2008German Output in Slight Slowing
Summary
German output shows signs of slowing. The sequential growth rates in the table demonstrate that growth has slowed steadily from 12-mos to 6-mos to 3-mos. Output of consumer goods, weak over the entire period has weakened further in [...]
German output shows signs of slowing. The sequential growth
rates in the table demonstrate that growth has slowed steadily from
12-mos to 6-mos to 3-mos. Output of consumer goods, weak over the
entire period has weakened further in the recent three months. Capital
goods output, long the strength of German manufacturing is showing some
clear signs of weaker growth. Oddly, against that back drop the output
of intermediate goods has ramped up.
For the quarter output is up a solid 2.2%, but that is down
sharply from over 8% in Q3. For the quarter the sectors are mostly
solid, with weakness in the output of construction goods being the weak
exception.
| Total German IP | |||||||
|---|---|---|---|---|---|---|---|
| Saar except m/m | Dec-07 | Nov-07 | Oct-07 | 3-mo | 6-mo | 12-mo | Quarter to-Date |
| IP total | 0.8% | -0.3% | -0.2% | 1.4% | 4.7% | 4.3% | 2.2% |
| Consumer Goods | 2.3% | -1.2% | -0.9% | 0.4% | 6.4% | 2.2% | 1.7% |
| Capital Goods | -2.0% | 0.2% | 1.5% | -1.5% | 3.5% | 5.6% | 5.0% |
| Intermediate Goods | 3.2% | -0.2% | -0.9% | 8.8% | 8.4% | 6.5% | 2.9% |
| Memo | |||||||
| Construction | 0.9% | -0.2% | -1.5% | -3.4% | 3.3% | -5.6% | -2.6% |
| Manufacturing IP | 0.9% | -0.2% | 0.0% | 3.0% | 6.1% | 5.3% | 3.4% |
| Manufacturing Orders | -1.7% | 3.0% | 4.0% | 22.5% | -2.0% | 10.2% | 21.2% |
Robert Brusca
AuthorMore in Author Profile »Robert A. Brusca is Chief Economist of Fact and Opinion Economics, a consulting firm he founded in Manhattan. He has been an economist on Wall Street for over 25 years. He has visited central banking and large institutional clients in over 30 countries in his career as an economist. Mr. Brusca was a Divisional Research Chief at the Federal Reserve Bank of NY (Chief of the International Financial markets Division), a Fed Watcher at Irving Trust and Chief Economist at Nikko Securities International. He is widely quoted and appears in various media. Mr. Brusca holds an MA and Ph.D. in economics from Michigan State University and a BA in Economics from the University of Michigan. His research pursues his strong interests in non aligned policy economics as well as international economics. FAO Economics’ research targets investors to assist them in making better investment decisions in stocks, bonds and in a variety of international assets. The company does not manage money and has no conflicts in giving economic advice.
More Economy in Brief
