Germany’s industrial output, exports fall in June
The data showed that production in industry excluding energy and construction declined 1.3% month over month. Construction output decreased 4.5% and the production of capital goods declined 2.6% in June. Intermediate goods output dropped 0.3% while consumer goods production also posted a decrease of 0.2%. Energy output, however, increased 2.3% in June from a month earlier.
Meanwhile, according to a separate report released by Destatis, Germany’s exports dropped by 1% month over month in June on a seasonally adjusted basis while imports declined 0.5%. Economists’ initial estimates called for a drop of 0.5% for exports and and a gain of 0.5% in imports in a survey by Reuters. In accordance with the new figures, Germany’s trade surplus rose to a record high of €24 billion ($26.19 billion).
More free plastics newsPlastic resin (PP, LDPE, LLDPE ,HDPE, PVC, GPS; HIPS, PET, ABS) prices, polymer market trends, and more...
- Lackluster demand outweighs tightness in Asian ABS markets
- Will costs drum up support for a 3rd-month-firming in Europe PET market?
- Import PE markets give softening signals in China, SE Asia
- PVC supplies tight, demand robust across Europe
- China’s local PP, PE markets snap nine-week rally
- Turnarounds keep PP supply tight in SE Asia
- European PP market sees step backs from initial July offers
- Focus turns to August in Turkey: PP and PE players sidelined amid blurry outlook
- SEA PE uptrend intact, yet increases capped by reduced demand
- Taiwanese major hikes Aug PVC offers to Asia as limited availability outweighs monsoon effect