• vs +1.5% prev in August and +1.3% current forecast from German govt
  • cuts 2014 imports forecast to +3.6% from 6.0% . 2015 imports +5.0%
  • cuts 2014 exports forecast to +2.8% from +3.5% prev. 2015 exports +4.0%
  • cuts 2014 pvt consumption forecast to +0.8% vs +1.8% prev. 2015 forecasts +1.0%

EURUSD shrugging off the gloomy news at 1.2694 with IFO coming up at the top of the hour