Recent economic data reveals a mixed picture of the global economy, with significant fluctuations in retail sales, wholesale inventories, and industrial production. In the Eurozone, retail sales year-on-year for January fell by 1%, slightly better than the forecasted -1.3% decrease but still down from the previous -0.8%. Meanwhile, in the US, wholesale inventories experienced a month-on-month revision, contracting by 0.3% against a forecasted -0.1%, indicating a reduction from the previous month's -0.1%. In Germany, a sharp decline in manufacturing orders by 11.3% in January signals a potential economic slowdown, significantly surpassing expectations. This was corroborated by the federal statistics office, which cited base effects as a contributing factor. Additionally, German industrial production saw a year-on-year slump of 5.5%, exceeding the anticipated -4.8% and marking a decline from the previous -3.13%. However, on a month-to-month basis, German industrial production in January rose by 1.0%, suggesting a complex economic landscape.
German industrial output rises more than expected in January https://t.co/XHARfjQKNe https://t.co/YuMkQF9u1Q
⚠️ GERMAN INDUSTRIAL OUTPUT RISES MORE THAN EXPECTED IN JANUARY Full Story → https://t.co/oOKB0pDA3R German industrial production rose in January by 1.0% from the previous month, the federal statistics office said on Friday. https://t.co/q9OChzxDGV
🔴 GERMAN INDUSTRIAL PRODUCTION JANUARY 2024 FULL REPORT https://t.co/1vJgOe5x3h
🔴 GERMAN INDUSTRIAL PRODUCTION YOY SA ACTUAL -5.5% (FORECAST -4.8%, PREVIOUS -3.13%) $MACRO
German factory orders plunge, indicating economic slowdown https://t.co/NCYpp8fjVT https://t.co/L3JV0947mZ
⚠️ GERMAN INDUSTRIAL ORDERS FALL MORE THAN EXPECTED IN JANUARY Full Story → https://t.co/PyfTGVpm79 German industrial orders fell much more than expected in January due to base effects, the federal statistics office said on Thursday. https://t.co/e1EMctC1Ch
German manufacturing orders sank a bigger-than-expected 11.3% in January https://t.co/ZGTbiuk1RG
🔴 US WHOLESALE INVENTORIES MOM REV. ACTUAL -0.3% (FORECAST -0.1%, PREVIOUS -0.1%) $MACRO
🔴 EUROZONE RETAIL SALES YOY ACTUAL -1% (FORECAST -1.3%, PREVIOUS -0.8%) $MACRO