First Germany, Now France
The eurozone recovery is faltering, first with Germany, now with France.
In February, German Industrial Output fell by 1.6 percent after rising by a revised 0.1 percent in January, data from the Economy Ministry showed. February’s drop was the biggest since August 2015 and compared with a Reuters consensus forecast for a rise of 0.3 percent.
The math seems screwy, no doubt due to seasonal adjustments or lies, but here's the kicker: "Factory orders dropped for a third month running in March as foreign demand weakened."
Germany New Orders Dip 0.9% in March
According to preliminary data from the Federal Statistical Office (Destatis) in March 2018, price-adjusted new orders in the manufacturing sector were 0.9% lower than in the previous month, seasonally and calendar- adjusted . For February 2018, after revision of the preliminary results, there was a decrease of 0.2% compared to January 2018 (provisional value: + 0.3%).
Trump's trade war with everyone and his reimposed Iran sanctions will add to European misery.
Mike "Mish" Shedlock