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Market insight 20.02.2018

ZEW slightly lower than expected in Germany

ZEW slightly lower than expected in Germany

Germany: Zew (Feb): 92.3 vs 93.9 expected (prior: 95.2)

  • Expectations: 17.8 vs 16 expected (prior: 20.4)
  • Sentiment has slightly eased, probably more due to the recent decline in equity prices rather than broader concerns about the economy.

 

Germany: PPI (Jan): 0.5% m/m vs 0.3% expected (prior: 0.2%)

  • On a y/y basis: 2.1% vs 1.8% expected (prior: 2.3%)
  • Consumer goods prices rose by 0.1% m/m, while capital goods prices increased by 0.5% m/m.

 

Poland: PPI (Jan): 0.1%m/m vs 0% expected (prior: -0.3%)

  • On a y/y basis: 0.2% vs 0.1% expected (prior: 0.3%)
  • Manufacturing rose by 0.2% m/m, while electricity and gas declined by 0.3% m/m.

 

Poland: Retail sales (Jan): -20.5% m/m vs -21.2% expected (prior: 16.6%)

  • On a y/y basis: 8.2% vs 6.9% expected (prior: 6%).

 


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