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German, French Industrial Output Declines
World Economy

German, French Industrial Output Declines

A bulk of data releases on the European economy provided mixed diagnoses for largest economic trend setters over the continent for March and April, Action Forex reported. While German industrial output dropped 1.3% in March, falling short of investor expectations, data on the trade balance showed a positive trend, jumping as high as €26 billion ($29.6 billion), compared to a €20.6 billion investor estimate, and ultimately sent mixed signals about German economic health. Destatis reported that exports increased 1.9% in March from a month earlier, while imports dropped 2.3%. France displayed weaker economic performance over the third month of the year, as industries followed a pattern similar to Germany’s, disappointing investors with a 0.3% decline in output, while an advance in government deficit added to the aggravation. On an annual basis, industrial output in France fell 0.8% in March, down from 0.4% posted in February. According to the European Commission’s Spring Economic Forecast, France’s economic growth outlook was left unchanged, with the EC forecasting it will grow 1.3% and 1.7% in 2016 and 2017, respectively.

 

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