DAX Index Gains 0.45% Despite Fall of German Factory Orders
European stock markets rose slightly today amid a successful session seen in Asia and the commodity markets. The German DAX stock index rose by 0.45% to 12,878 points. Eurozone Retail PMI fell to 48.6, marking the first contraction since March 2017. Eurozone Sentix Investor Confidence declined to 19.2, below the forecast of 21.2 points.
German industrial orders decreased in March, posting the third consecutive monthly drop. The drop possibly shows that factories in Europe’s largest economy will shift into a lower gear in the coming months. Data from the Federal Statistics Office showed that German Factory Orders fell 0.9% after a downwardly revised drop of 0.2% the previous month. Analysts had on average predicted a 0.5% rise in orders.
In its latest issue of the economic bulletin, the European Central Bank (ECB) highlighted concerns about a tariff war that could adversely affect the recovery of world trade in the future. So, the ECB emphasizes that a full-scale trade war is fraught with an increase in import prices and production costs, it will also hit household purchasing power, consumption, investment and employment.