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Germany Economic Data Points to a Healthier European Engine

A bumper week of economic data for Germany, coupled with a confirmation of its AAA rating, has boosted hopes that its recovery is gaining traction.

Germany’s industrial output grew at its fastest pace in almost two years in June, according to data released on Wednesday. Output rose by 2.4 percent on the month, substantially beating the Reuters consensus forecast of a 0.3 percent gain.
This was followed on Wednesday by an affirmation of Germany’s sovereign AAA rating by Fitch Ratings, who said the country’s outlook remained stable.

Wednesday’s data were welcomed by economists, who said they bade well for the country’s second-quarter gross domestic product (GDP) reading, which will be published on August 14.

via CNBC [1]

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Alfonso Esparza

Alfonso Esparza [6]

Senior Currency Analyst at Market Pulse [7]
Alfonso Esparza specializes in macro forex strategies for North American and major currency pairs. Upon joining OANDA in 2007, Alfonso Esparza established the MarketPulseFX blog and he has since written extensively about central banks and global economic and political trends. Alfonso has also worked as a professional currency trader focused on North America and emerging markets. He has been published by The MarketWatch, Reuters, the Wall Street Journal and The Globe and Mail, and he also appears regularly as a guest commentator on networks including Bloomberg and BNN. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto.
Alfonso Esparza