BOSSA.CZ (BOSSA.CZ)
Markets  |  August 08, 2012 18:42:19

Germany and the Bank of England today dominated European markets


Germany

Today's data showed that German industrial production in July fell slightly more than expected, and about 0.9 percent. While analysts expected a 0.8 percent reduction in the previously mentioned growth of 1.6 percent over the previous month.

It seems that the deepening debt crisis Eurozone have its toll on Europe's largest economy.

Department data showed Tuesday that industrial orders in Germany in June fell by 1.7 percent, far more than expected when weaken domestic demand in the euro area.

Today's production figures therefore correspond to yesterday's industrial orders data and the results of last week's PMI.

Euro now under the weight of weak data from Germany against the dollar declined.

Great Britain

Pound against the euro today improved their sales after the Bank of England Governor Mervyn King chose the cautious stance on future interest rate cuts, which surprised some investors. In his speech thus suggested that the British central bank was preparing to provide further stimulus to the economy despite the fact that significantly reduced the medium-term forecast of economic growth.

Bank of England in the regular quarterly report said that annual economic growth in two years will amount to around 2 percent, while three months ago, still waiting for 2.67 percent.

U.S.

Afternoon published data from the United States. Today's figures showed that productivity in the U.S.outside the agricultural sector in the second quarter rose more than expected, which is for the economy in the long term is positive, because employees with higher productivity improves living standards.

U.S. Department of Labor reported that productivity in the period April to June went up by 1.6 percent, while analysts expect growth of just 1.3 percent.

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