Thursday, March 08, 2007

Forex News: 07.03.2007 January index of manufacturing orders in Germany far below expectations

The index of manufacturing orders in Germany unexpectedly declined in January by 1.0%. Annual growth of manufacturing orders was 7.8%.

December data was revised to better. In December manufacturing orders rose in Germany by 0.7% (revised from 0.2% decline) in a month and by 2.7% in a year (revised from 1.7%). In consideration of the initial data, the analysts expected substantial increase of the indicator, from -0.2% in December to 0.5% in January.

The index of manufacturing orders is one of most significant macroeconomic indicators, reflecting the perspectives of economic growth in the country. Thus, its substantial and unexpected decline may set negative sentiment of the market toward German currency.


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