We expect German industrial production to decline 0.2% m/m in June as manufacturing PMI decreased in June and factory orders were down 0.5% m/m in May. Even though a decline in June implies that industrial production decreased in both May and June, we expect that the average level will be higher in Q2 compared to Q1.
Today, at 11:30 CET, the new governor of Bank of England, Mark Carney, will present the findings of the review into forward guidance and intermediate thresholds requested by the government, alongside the BoE's latest quarterly forecasts for growth and inflation. We expect the likely announcement of a more aggressive approach to monetary policy - either via a time- or state-contingent commitment - to anchor short GBP rates and to weigh on Sterling.
Bank of Japan starts its two-day monetary policy meeting.
In the Scandi markets, the Swedish National Debt Office (SNDO) releases the July budget balance and in Norway June manufacturing production figures are due at 10:00 CET.
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Danske Daily: German Industrial Production Expected To Decline
Published 08/07/2013, 07:04 AM
Updated 05/14/2017, 06:45 AM
Danske Daily: German Industrial Production Expected To Decline
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