OilFinder2 wrote:Meanwhile, in the Eurozone's biggest economy ...
German Industrial Output Rose Three Times More Than ForecastGerman industrial output rose more than three times as much as economists forecast in March, adding to signs Europe's largest economy may have avoided recession.
Production jumped 2.8 percent from February, when it dropped 0.3 percent, the Economy Ministry in Berlin said today. February output was revised up from a 1.3 percent decline. Economists forecast a March gain of 0.8 percent, the median of 38 estimates in a Bloomberg News survey shows. In the year, production advanced 1.6 percent when adjusted for working days.
German Factory Orders Rose More Than Forecast in MarchGerman factory orders rose more than economists forecast in March as demand from outside the euro area helped Europe’s largest economy weather the debt crisis.
Factory orders, adjusted for seasonal swings and inflation, jumped 2.2 percent from February, when they gained a revised 0.6 percent, the Economy Ministry in Berlin said today. Economists surveyed by Bloomberg News predicted a 0.5 percent increase, according to the median of 37 estimates. From a year ago, orders dropped 1.3 percent when adjusted for work days.
German companies are tapping faster-growing emerging markets as the sovereign debt crisis curbs demand in the euro region. Business confidence climbed to a nine-month high last month and investor sentiment unexpectedly rose to a two-year high. Still, economic growth will slow to 0.6 percent this year from 3 percent in 2011, according to the Bundesbank, as fellow euro-area members drop back into recessions.
Today’s data are “a very positive surprise,” said Klaus Baader, senior economist at Societe Generale SA in Hong Kong. “The numbers show that despite the crisis in the euro area, Germany is growing and benefiting from a revival in international trade.”
And from a couple weeks ago ...
German Business Confidence Unexpectedly Rose to 9-Month HighGerman business confidence unexpectedly increased to a nine-month high in April, adding to evidence that Europe's largest economy can weather the resurgent sovereign debt crisis.
The Munich-based Ifo institute said today its business climate index, based on a survey of 7,000 executives, rose for a sixth straight month to 109.9 from 109.8 in March. Economists predicted a drop to 109.5, according to the median of 40 economists in a Bloomberg News survey. The index has beaten forecasts every month since September.
The German economy, which contracted in the final quarter of last year as the debt crisis damped demand for its goods in Europe, may have avoided a recession. Companies have increased sales to faster-growing markets in Asia, and unemployment at a two-decade low is bolstering consumption at home. Investor confidence unexpectedly rose to a two-year high this month.
Oh, this is EXCELLENT ... this is a watershed moment where OF2 has finally seen the light; namely, that there are important economies OTHER THAN THE US ... and that the Eurozone is critically important to the US ...
And he posts not one, not two, but THREE articles about a Eurozone country!
It's been like pulling teeth, but it's finally happened ... he's seen the light, at last ... !!!