German Industrial Production, Exports Growth Accelerates

Trading 07 août 2020 Commentaire »

Germany's industrial production and exports growth improved in June as the relaxation of the coronavirus containment measures both within the economy and abroad boosted demand at the start of the third quarter.

Industrial production advanced 8.9 percent month-on-month in June, faster than the 7.4 percent increase seen in May, data from Destatis revealed on Friday. Economists had forecast a monthly growth of 8.1 percent.

Similarly, exports advanced more-than-expected 14.9 percent on month, following May's 8.9 percent increase. Shipments were forecast to grow 13.3 percent in June.

A surge in exports and industrial production confirms the 'v'-shaped rebound, Carsten Brzeski, an ING economist, said.

With all the risks of a second lockdown wave, an increase of permanent unemployment and structural changes to the economy stemming from Covid-19, it is however very unlikely that this 'v' will last for long, the economist added.

The economy ministry said in view of the persistently weak demand, especially from abroad, the further catching-up process will likely take some time.

Andrew Kenningham, an economist at Capital Economics, said the recovery in industrial production should continue in the coming months, but will probably lose momentum. Output will remain well below normal for a long time yet, the economist added. Due to the shutdown in April, manufacturing output decreased 16.1 percent sequentially in the second quarter.

Data showed that excluding energy and construction, industrial output was up by 11.1 percent in June. Within industry, intermediate goods output showed an increase of 5.0 percent. At the same time, output of consumer goods grew 7.3 percent and that of capital goods advanced 18.3 percent.

Production in the automotive industry in June continued to increase markedly by 54.7 percent on month, data showed.

Outside industry, energy production grew 5.5 percent and construction output climbed 1.4 percent.

On a yearly basis, industrial production fell 11.7 percent in June after declining 19.5 percent in May.

The trade data showed that imports growth advanced to 7 percent from 3.6 percent in May. However, this was slower than economists' forecast of 10.9 percent rise.

The trade surplus rose to a seasonally adjusted EUR 14.5 billion from EUR 7.5 billion a month ago. This was well above the expected level of EUR 10.1 billion.

Year-on-year, exports decreased 9.4 percent in June versus a 29.8 percent decline in May. Likewise, the fall in imports eased to 10 percent from 21.7 percent.

In June, the current account surplus increased to EUR 22.4 billion from EUR 19.5 billion registered in the same period last year.


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Greece Consumer Prices Fall For Fourth Month

Trading 07 août 2020 Commentaire »

Greece's consumer prices declined for the fourth straight month in July, data from the Hellenic Statistical Authority showed on Friday.

The consumer price index fell 1.8 percent year-on-year in July, following a 1.6 percent decline in June.

Prices for transportation declined 9.1 percent annually in July. Prices of housing decreased 4.5 percent and communication cost fell 1.8 percent.

Meanwhile, prices for clothing and footwear and food and non-alcoholic beverages grew 4.1 percent and 1.8 percent, respectively.

On a monthly basis, consumer prices fell 1.7 percent in July, after remaining unchanged in the prior month.

The EU measure of harmonized index of consumer prices, or HICP, fell 2.1 percent annually in July, following a 1.9 percent decline in the preceding month.

On a monthly basis, the HICP fell 1.4 percent in July, following a 0.7 percent decrease in the prior month.

Separate data from the statistical office showed that the industrial production fell 4.9 percent yearly in June, following a 7.8 percent decline in May.

Manufacturing output fell 1.0 percent annually in June and mining and quarrying production declined 17.6 percent. Production of electricity and water supply decreased 18.2 percent and 0.2 percent.

On a monthly basis, industrial production rose 7.2 percent in June, following a 2.9 percent increase in the prior month.


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Estonia Consumer Prices Fall Further In July

Trading 07 août 2020 Commentaire »

Estonia's consumer prices continued to decline in July, data from Statistics Estonia showed on Friday.

The consumer price index fell 0.9 percent year-on-year in July, following a 1.0 percent decrease in June.

Consumer prices were affected the most by a price decrease in motor fuel. Petrol prices decreased 7.7 percent and diesel fuel was 23.7 percent cheaper, Statistics Estonia analyst Viktoria Trasanov said.

"Another significant contributor to the index change was housing services, as electricity that reached homes was 16.1% and rent 8.9% cheaper than last year," Trasanov said.

"Accommodation services prices dropped by nearly a quarter," Trasanov added.

Prices of transportation declined 3.7 percent yearly in July and those of housing fell 5.7 percent. Prices for alcoholic beverages and tobacco fell 1.0 percent.

Meanwhile, prices for education grew 3.7 percent and those for clothing and footwear increased 3.2 percent. Prices for food and non-alcoholic beverages rose 2.4 percent.

On a monthly basis, consumer prices remained unchanged in July, after a 0.9 percent rise in the previous month.


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Portugal Trade Deficit Narrows In June

Trading 07 août 2020 Commentaire »

Portugal's foreign trade deficit narrowed in June, amid declines in both exports and imports, figures from Statistics Portugal showed on Friday.

The trade deficit fell to EUR 828 million in June from EUR 1.87 billion in the same month last year. In May, the deficit was EUR 921 million.

Exports fell 10.1 percent year-on-year in June, following a 38.7 percent decline in May.

Imports declined 23.1 percent annually in June, following a 39.8 percent fall in the previous month.

On a month-on-month basis, exports increased 24.2 percent and imports rose 17.0 percent.

In the second quarter, exports and imports declined by 30.6 percent and 34.4 percent, respectively, a year ago.


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Austria Wholesale Prices Fall; Trade Deficit Narrows

Trading 07 août 2020 Commentaire »

Austria's wholesale prices declined for the sixth straight month in July, and the trade deficit decreased in May, data from the from Statistics Austria showed on Friday.

The wholesale price index fell 4.6 percent year-on-year in July, following a 5.1 percent fall in June.

Prices for petroleum products declined 30.5 percent annually in July and those of old and residual materials decreased 16.2 percent.

Meanwhile, prices of watches and jewelry grew 14.2 percent and those of chemicals gained 4.0 percent.

On a month-on-month basis, the wholesale prices increased 0.9 percent in July, following a 1.4 percent rise in the prior month.

Data also showed that the trade deficit narrowed to EUR 457.59 million in May from EUR 472.26 million in the same month last year.

Exports declined 25.5 percent annually in May and imports fell 24.8 percent.

Trade with EU nations resulted in a trade deficit of EUR 556.85 million in July compared to EUR 337.43 million in the same month last year.

For the January to May period, the trade deficit was EUR 1.08 billion. Exports and imports decreased by 14.3 percent and 12.9 percent, respectively.


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Dutch Industrial Production Decline At A Softer Pace

Trading 07 août 2020 Commentaire »

Dutch industrial production declined sharply in June, albeit at a softer pace, figures from the Central Bureau of Statistics showed on Friday.

Industrial production decreased 9.7 percent year-on-year in June, following an 11.9 percent fall in May.

Among the eight largest categories, the production in the machinery repaid and installation sector declined the most in June, but at a slower pace compared to previous month.

Production was lower in most of the industry business classes, except in building materials and tobacco, the agency said.

Production of repair maintenance and services declined 28.1 percent in June and means of transportation fell 17.9 percent.

On a seasonally and working-day adjusted basis, industrial production rose 2.1 percent in June.


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Malaysia Industrial Production Decline Slows In June

Trading 07 août 2020 Commentaire »

Malaysia's industrial production at a softer rate in June, data from the Department of Statistics showed on Friday.

Industrial production fell 0.4 percent year-on-year in June, following a 21.6 percent decrease in May.

Manufacturing output rose 4.7 percent yearly in June, after a 22.6 percent fall in the previous month.

Among other sectors, mining and quarrying output decreased 17.1 percent and electricity output fell 2.4 percent.

On a monthly basis, industrial production grew 26.2 percent in June, as the government allowed more industries to operate from May.


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Slovakia Trade Surplus Increases In June

Trading 07 août 2020 Commentaire »

Slovakia's trade surplus increased in June as imports fell faster than exports, data from the Statistical Office of the Slovak Republic showed on Friday.

The trade surplus increased to EUR 641.7 million in June from EUR 87.7 million in the same month last year. In May, the trade surplus was EUR 133.0 million.

Exports declined 1.2 percent annually in June and imports fell 8.9 percent.

For the January to June period, export and imports fell by 17.1 percent and 15.6 percent, respectively, compared to the same period previous year. The trade balance registered a deficit of EUR 185.9 million.


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*Dollar Firms To 2-day High Of 1.1803 Versus Euro After U.S. Jobs Data

Trading 07 août 2020 Commentaire »

Dollar Firms To 2-day High Of 1.1803 Versus Euro After U.S. Jobs Data


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Hungary Trade Surplus Rise In June

Trading 07 août 2020 Commentaire »

Hungary's trade surplus increased in June, amid a fall in both exports and imports, data from the Hungarian Central Statistical Office showed on Friday.

The trade surplus increased to EUR 697 million in June from EUR 496 million in the same month last year.

A moderate decline was observed in both directions of euro-denominated external trade in goods than in April-May as the direct negative impacts of coronavirus pandemic eased, the agency said.

Exports fell 3.1 percent year-on-year in June, following a 28.6 percent decrease in May.

Imports decreased 5.7 percent annually in June, following a 24.5 percent fall in the preceding month.


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