German Industrial Output Rises 1.8% in April for Third Month of Growth (EWG) (FXE)
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iShares MSCI Germany Index Fund (NYSE: EWG) and CurrencyShares Euro Trust (NYSE: FXE) are on watch Friday following solid data out of Germany earlier.
For the month of April, industrial output rocketed 1.8 percent higher from March, according to the Economy Ministry in Berlin. That is the third consecutive increase and the strongest gain since March last year, data show.
Economists were looking for no change.
Numbers could indicate that the euro-area is shaking off some of the downward pressure its been experiencing over the last few years. Some analysts note that continued structural problems are standing in the way of further growth in the region.
In a separate piece of news, Germany's Bundesbank trimmed its outlook for growth in the country from 0.4 percent down to 0.3 percent. For 2014, the German economy is now expected to grow 1.5 percent, down from 1.9 percent expected last December.
German GDP was positive 0.1 percent for the first three-months of 2013.
For the month of April, industrial output rocketed 1.8 percent higher from March, according to the Economy Ministry in Berlin. That is the third consecutive increase and the strongest gain since March last year, data show.
Economists were looking for no change.
Numbers could indicate that the euro-area is shaking off some of the downward pressure its been experiencing over the last few years. Some analysts note that continued structural problems are standing in the way of further growth in the region.
In a separate piece of news, Germany's Bundesbank trimmed its outlook for growth in the country from 0.4 percent down to 0.3 percent. For 2014, the German economy is now expected to grow 1.5 percent, down from 1.9 percent expected last December.
German GDP was positive 0.1 percent for the first three-months of 2013.
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