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Rolling coverage of the latest economic and financial news, including more weak economic data from Germany. Skip to main content The Guardian – Back to home Support The Guardian Available for everyone, funded by readers Contribute Subscribe Contribute Search jobs Sign in My account Comments & replies Public profile Account details Emails & marketing Membership Contributions Subscriptions Sign out Search switch to the International edition switch to the UK edition switch to the US edition switch to the Australia edition current edition: International edition News Opinion Sport Culture Lifestyle Show More News World news UK news Science Cities Global development Football Tech Business Environment Obituaries Opinion The Guardian view Columnists Cartoons Opinion videos Letters Sport Football Rugby union Cricket Tennis Cycling F1 Golf US sports Culture Books Music TV & radio Art & design Film Games Classical Stage Lifestyle Fashion Food Recipes Love & sex Health & fitness Home & garden Women Men Family Travel Money What term do you want to search? Search with google Make a contribution Subscribe International edition switch to the UK edition switch to the US edition switch to the Australia edition Search jobs Dating Holidays Digital Archive Discount Codes The Guardian app Video Podcasts Pictures Newsletters Today’s paper Inside the Guardian The Observer Guardian Weekly Crosswords Facebook Twitter Search jobs Dating Holidays Digital Archive Discount Codes Business Economics Banking Money Markets Project Syndicate B2B More Business live Business German industrial production falls as slowdown gathers pace – business live
Rolling coverage of the latest economic and financial news, including more weak economic data from Germany
An employee of German car manufacturer Porsche works on a dashboard of a Porsche 911 at the Porsche factory in Stuttgart-Zuffenhausen, Germany. Photograph: Ralph Orlowski/Reuters Graeme Wearden
Mon 11 Mar 2019 07.36 GMT Last modified on Mon 11 Mar 2019 07.38 GMT
Share on Facebook Share on Twitter Share via Email Key events Show 6.58am GMT 06:58 Introduction: Weak German factory production Live feed Show 6.58am GMT 06:58
Introduction: Weak German factory production Good morning, and welcome to our rolling coverage of the world economy, the financial markets, the eurozone and business.
2018 was a tough year for Germany , as Europe’s larget economy was dragged to the brink of recession. 2019 hasn’t started much better.
New figures released this morning show that German industrial output slid, alarming, by 0.8% month-on-month in January. Economists had expected a 0.5% gain.
On an annual basis, output was a chunky 3.3% smaller than in January 2018.
It’s another sign that global trade tensions, the eurozone slowdown and Brexit uncertainty have all hurt demand for German-made products.
Worryingly, the decline was driven by lower demand for heavy-duty machinery and equipment.
Statistics body Destatis says that production of capital goods slumped by 2.5% on the month, while ‘intermediate goods’ production fell by 0.7%.
But consumer goods production rose by 1.5%, suggesting the global slowdown is worrying businesses more than families.
Holger Zschaepitz (@Schuldensuehner) More doom & gloom from industrial #Germany . German Jan Industrial Output dropped -0.8% MoM vs +0.5% expected. Capital goods fall 2.5% MoM, Consumer goods rise 1.5% MoM, Basic goods fall 0.7% MoM. pic.twitter.com/MkNNreBmr0
March 11, 2019 Destatis news (@destatis_news) #Production in January 2019: -0.8% seasonally adjusted on the previous month. https://t.co/kfsnCyJWSo pic.twitter.com/0WzuGT41i1
March 11, 2019
Also coming up today Brexit looms like a dark cloud over the City, as we enter a crunch week for the UK’s future. With no breakthrough in negotiations with Brussels, MPs are expected to reject Theresa May’s deal tomorrow.
Jennifer Rankin (@JenniferMerode) Jean-Claude Juncker spoke by phone to Theresa May by phone last night, but talks remain deadlocked.
There are no plans for Theresa May to visit Brussels today.
March 11, 2019 RANsquawk (@RANsquawk) -Brexit talks between the UK and the EU remain at an impasse, Downing Street has said, talks are to resume today
March 11, 2019 Cue speculation that the PM may not last much longer.
‘Next negotiation will be for Bake Off’: Tory MPs suggest PM’s days are numbered Read more
Global investors are still digesting last Friday’s unexpectedly weak US jobs report. It showed just 20,000 new jobs were created last month, down from over 300,000 in January . It may be a blip, or a warning sign that growth is slowing.
Today we get US retail sales figures, which should shed fresh light on the situation. Economists predict spending dipped by 0.1% in January, after a 1.2% slide in December.
In the UK, professor Jonathan Haskel is speaking at the University of Birmingham. He’s the newest member of the Bank of England’s monetary policy committee, so could talk about interest rate moves, and the state of the economy.
European markets are expected to open higher:
IGSquawk (@IGSquawk) European Opening Calls: #FTSE 7148 +0.62% #DAX 11506 +0.42% #CAC 5259 +0.53% #MIB 20595 +0.54% #IBEX 9170 +0.44%
March 11, 2019 The agenda 12.30pm GMT: US retail sales figures for January 1pm GMT: Bank of England policymaker Jonathan Haskel speaks at Birmingham University Updated at 7.34am GMT
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