Euroland flash PMI disappointed today as the composite index rose moderately to 44.4 in June from 44.0 in April while consensus had expected an increase to 45.2 and we had anticipated an increase to 4...

The Ifo economic expectations indicator increased sharply for the sixth month in a row to 89.5 in June from 85.9 in April. Consensus had expected an increase to 87.0 and we expected 87.7 The overall I...

Foreign trade data for April was somewhat disappointing, though not a complete surprise. Exports have been in a stabilisation phase since February after having been in freefall. We project that export...

The ZEW economic expectations indicator increased sharply to 44.8 in June (consensus 35.0) from 31.1 in April. Forecasts from 40 analysts ranged from 25 to 45. We were the outlier on the upside. It is...

Retail sales in the Euro-area rose for the first time in seven months in April, following a 0.1% (revised) decrease in the previous month. From one year ago, retail sales are down 2.3%....

The Euro-area GDP release showed that the economy contracted 2.5% in the first quarter. Q1 was the fourth consecutive quarter in which the economy contracted....

The Euro-area PPI shows that the pace of inflation is dropping at a sustained pace. Producer prices fell 1.0% in April, following a 0.7% drop just one month prior. From one year earlier, the PPI came ...

The service side of the economy in the Euro-area has been in contraction for the last eleven months according to the latest PMI release. However, the released number of 44.8 shows substantial improvem...

The unemployment rate in the Euro-area continues to rise as the economic slowdown affects the labor market. The latest release, for the month of April, shows that the unemployment rate has reached 9.1...

The PMI release shows the euro-area manufacturing side of the economy has contracted for twelve consecutive months, although the pace of contraction has slowed lately. The release number of 40.7 is sl...

Euro-area May inflation, as measured by the Flash estimate, dropped to 0.0%, the lowest level on record. Over the last few months, the inflation gauge has dropped sharply, reflecting tougher credit co...

The Euro zone M3 number hit the wires at 4.9%, higher than what analysts had previously estimated, but still lower than March's number. The number for the month of March was revised to 5.0%, slightly ...

German retail sales increased 0.5% in April, seasonally adjusted, pulled higher by the Easter Holiday. In real terms however, German retail sales continued to decline, falling another 0.8% in April. ...

Consumer confidence in the Euro-area held steady at -31, slightly lower than analysts’ estimates. The read indicates that consumers are still optimistic that the economic contraction may be slowing or...

The number of unemployed persons looking for a job in Germany for the month of April rose by only 1K, much better than what analysts had expected. From one year ago in April, the German economy shed 1...

The Euro-area current account was released at -6.5B, better than analysts’ expectations. The previously released number, for the month of February, was revised lower, to -7.8B. “The report shows that ...

German consumer climate remained steady for the month of June 2009. 'German consumers face difficult times, as uncertainty regarding the economic future mounts. However, some improvement had been seen...

The German economy contracted in the first quarter by 3.8%, as the preliminary read showed. The released number represents the biggest quarterly drop since records first begun, in 1970. Compared with ...

In April, German import prices fell by 0.8%, extending the record pace of declines set over the last few months. From April 2008, the index is down by 8.6%, the biggest YoY decline since 1987. During ...

The German Ifo rose again in May to 84.2 from 83.7 in April. This was slightly lower than consensus at 85. The most forward looking sub-index “expectations” rose stronger than expected though, and poi...

The German IFO Business Climate continued to improve in May, but less than what the market expected. The index rose for a second consecutive month in May, reaching 84.2. ...

Euroland flash PMI surprised on the upside today as the composite index rose strongly from 41.1 in April to 43.9 in May (consensus 42.3). Manufacturing PMI increased from 36.8 to 40.5 while consensus ...

The European PMI service shows that both the service and manufacturing side of the economy are still in a contraction phase. This is the twelfth consecutive month when the two indexes have shown a rea...

The German service PMI was released at 46.0, showing the industry has contracted during the last eight months, while the manufacturing index came at 39.1, better than expected. ...

In April, the German PPI was released at -1.4%, lower than market's expectations. The year-over-year read dropped to the lowest level since 1987, from -0.5% in March to -2.7% in April. The largest upw...

The ZEW economic expectations indicator increased sharply to 31.1 in May (consensus 20.0) from 13.0. This surprisingly sharp increase in expectations brings the expectations index up to pre-crisis lev...

The Euro-area adjusted trade balance was released at -2.1B in March, better than expected. In March 2009 compared with February 2009, seasonally adjusted exports rose by 1.4% and imports by 0.6%....

The Euro-zone economy contracted at a record pace in the first quarter, and the plunge in German GDP was simply breath-taking. In our view, the Euro-zone economy will continue to contract through at l...

Inflation remained stable in the Euro-area in April, as the Flash CPI forecast. However, the core CPI was higher than expected, 1.8 vs 1.6%. The ECB mandate is to maintain the inflation rate close, bu...

The Euro-area GDP release showed that the economy contracted 2.5% in the first quarter. Q1 was the fourth consecutive quarter in which the economy contracted....

The German economy contracted in the first quarter by 3.8%, much more than what economist had expected. The released number represents the biggest quarterly drop since records first begun, in 1970. Co...

Industrial production fell in March in the Euro-area by 2.0%, more than what the market had expected. Compared with one year ago, industrial production is down by 20.2%, the largest annual drop on rec...

The German CPI held steady in April, in-line with the preliminary release. Last month, in March, the German CPI fell by 0.1%. 'Year-over-year, inflation in Germany rose to 0.7% in April. However, excl...

German industrial production remained unchanged in March from the previous month. Over the last six months, German industrial production contacted at a sustainable pace, reflecting the severity of the...

Factory orders in Germany rose for the first time in the last seven months in March. Previously, German factory orders declined at a record pace, posting a huge 38.5% decline in February from one year...

The service side of the economy in the Euro-area has been in contraction for the last ten months according to the latest PMI release. However, the released number of 43.8 shows some improvements had b...

The Euro-area PPI shows that the pace of inflation is dropping at a sustained pace. Producer prices fell 0.7% in March, following a 0.4% (revised) drop just one month prior. From one year earlier, the...

The Sentix report improved slightly in May, but the released number is considerably below the market's expectations. The index rose only 1.0 point from April, to -34.3. 'The Euro-zone's assessment is ...

The PMI release shows the euro-area manufacturing side of the economy has contracted for eleven consecutive months. The release number of 36.8 is slightly bigger than what analysts expected. ”Over the...

German retail sales continued to tumble in March, as the economy slows. Retail sales have fallen by 1.0% compared with an expected number of 0.0%. “The German release shows that consumption is slowing...

The unemployment rate in the Euro-area continues to rise. The latest release, for the month of March, shows that the unemployment rate reached 8.7%, more than was expected....

Euro-area April inflation, as measured by the Flash estimate, is expected to remain at 0.6%. Over the last few months, the inflation gauge has dropped sharply, reflecting tougher credit conditions and...

The number of unemployed persons looking for a job in Germany for the month of March rose by 58K, less than what analysts had expected. 'The unemployment number in Germany has been in a strong downtr...

Consumer confidence in the Euro-area improved to -31, beating analysts’ estimates and rising from the -34 read the previous month. The better than expected read indicates that consumers are becoming m...

The Euro zone M3 number hit the wires at 5.1%, much lower than what analysts had previously estimated. The number for the month of February was revised to 5.8%, slightly lower than the initial release...

German consumer climate remained steady for the month of May 2009. In the same time, the previous read, for April, was revised slightly higher, to 2.5. 'German consumers face difficult times ahead, as...

In March, German import prices fell by 0.4%, extending the record pace of declines set over the last few months. From March 2008, the index is down by 7.1%, the biggest YoY decline since 1987. During ...

The German IFO Business Climate bounced from a 26-year low in April, gaining 1.6 points. The index rose to 83.7 in April, the second increase in the last 12 months. ...

Euroland flash PMI surprised to the upside today as the composite index rose from 38.3 in March to 40.5 in April (consensus 38.7). This is the best PMI reading in six months. Manufacturing PMI increas...

The European PMI service shows that both the service and manufacturing side of the economy are still in a contraction phase. This is the eleventh consecutive month when the two indexes have shown a re...