Have come in -0.3% m/m, +0.8% y/y,  demonstrably weaker than median forecasts of +0.5%, +1.4% respectively.

Pretty much in line with median forecast of -20k. Unemployment rate 7.6%, unchanged from July and as expected.

Better than median forecast of 105.7.

EUR/USD has spiked higher, presently at 1.2720. Earlier had been receiving reports of sell orders at 1.2720/30.

Ifo’s Abberger:

• Growth rates in 2010 first half can not be sustained but no cooling in second half
• Germany will be affected in 2011 if US, Asia slip into recession
• Germany will have slight growth in consumption for full year 2010
• Possible risks for German growth are mainly from abroad
• No reason for any changes in interest rate policies at moment

No change from previous estimate and as expected.

EUR/USD steady in early European trade, presently at 1.2635. Earlier Sean reported buy orders, including sovereign interest, lying down at 1.2600/15.

Exports help bloc notch 3.9% expansion pace, but economists say rise is unsustainable.  WSJ article.

• Improved orders situation means industry should continue to drive recovery in coming months

Don’t panic!!!

Infact quite a bit weaker; -0.6% m/m compared to median forecast of +0.7%

EUR/USD hits session low 1.3166.

From flash 53.7.

German July final manufacturing PMI 61.2, unchanged from flash estimate.

• Confidence in banking sector must be created through stress tests
• Labour market situation is better now than before the crisis
• Budget consolidation will be carried out as planned

I like Angela.

• Recovery likely to strengthen in second half of 2010
• Outlook for further rise in German exports good
• Positive development in industrial demand points to continuing upward trend in output in months ahead
• Private consumption likely remained weak in Q2, but to pick up in course of year
• Labour market unlikely to deteriorate now given improvement in economic indicators
• Consumer prices to develop “calmly” over course of year

• 1
• 2
• 3
• 4
• 5
• ...
• 13
• >