Author Topic: Grim German data, IMF concerns spook Europe  (Read 1430 times)

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Grim German data, IMF concerns spook Europe
« on: October 07, 2014, 06:52:44 AM »
(Reuters) - A second day of grim German data and expectations for a cut in the International Monetary Fund's growth forecasts spooked European assets on Tuesday, as the recent spell of global financial market volatility continued.

Wall Street futures prices ESc1 pointed to a fifth day of modest falls in six for U.S. markets ahead of this week's start of third quarter earnings season, likely to be dominated by the potential impact of the recent surge in the dollar. [.N]

A day after German industrial orders saw their biggest monthly drop since the height of the global financial crisis in 2009, its industrial output figures for August plunged by 4.0 percent in the worst fall in more than five years.

"Industrial production is currently going through a weak phase," Germany's Economy Ministry said in a statement. "All in all, one should expect weak production for the third quarter as a whole."

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