Given proximity, strong trade (and other) relations with Central and Eastern Europe and heavy reliance on Russian oil and gas, Germany has a special interest in the stability of the region. The current deceleration in Russian growth alone does not threaten the upswing of the German economy. However, a combination of adverse shocks on several important export markets could. Watch out for export expectations and foreign order intake.
Tag: Euro area
• Beige Book shows higher activity in 8 of 12 districts • Employment important for Chinese economy
The latest Euro Rates Update is now available
No big moves as markets eyeing the ECB and the payrolls. Weather brings weak numbers. Not again, ECB. Commission gives homework to Italy. Luckily Euro area has its exports. BoE, auctions and some data today.
House prices increased by 0,3 % (SA) m/m in February Details show that the supply of houses is still high, and we still believe in weakness going forward
Instant view Following last week’s strong Q4 GDP report, we received somewhat weak production figures for January today. Production continued to decline in the manufacturing sector and the uptick in the service sector did not fully compensate the fall in December. However, the value of monthly production figures is limited. The data was indeed a very poor guidance for GDP Q4 and a wide range of other indicators suggest that the recovery of the Swedish economy will continue at a good pace.