Market participants also eyed economic data from Germany. Destatis released its manufacturing turnover data for Germany on Wednesday. Manufacturing turnover declined on seasonally adjusted and on adjusted for working days basis by 1.1% in March, after a 0.2% fall in February. February’s figure was revised down up a 0.5% decrease.
Domestic turnover decreased by 1.3% in March, while the business with foreign customers dropped 0.8%.
Sales to euro area countries fell 0.5% in March, while sales to other countries were down 1.1%.
On a yearly basis, real manufacturing turnover in Germany was up on adjusted for working days basis by 0.7% in March, after a 1.8% rise in February.
European Central Bank (ECB) Governing Council member Ewald Nowotny said in a speech on Wednesday that the exchange rate of the euro was not the target of the central bank’s stimulus measures. He also said that helicopter money could not be implemented in the Europe, adding that was little more than a “fantasy discussion” in the Eurozone.
The Office for National Statistics (ONS) released its manufacturing and industrial production figures for the U.K. on Wednesday. Industrial production in the U.K. rose 0.3% in March, missing forecasts of a 0.5% increase, after a 0.2% fall in February. February’s figure was revised up from a 0.3% decline.
The increase was mainly driven by a rise in electricity, gas, steam & air conditioning output, which climbed by 3.3% in March.
On a yearly basis, industrial production in the U.K. decreased 0.2% in March, beating expectations for a 0.4% drop, after a 0.1% increase in February. February’s figure was revised up from a 0.5% fall.
The decline was driven by a drop in manufacturing, which slid 1.9% year-on-year in March.
Manufacturing production in the U.K. was up 0.1% in March, missing expectations for a 0.3% gain, after a 0.9% decline in February. February’s figure was revised up from a 1.1% decrease.
The rise was mainly driven by an increase in manufacture of transport equipment, which rose by 2.7% in March.
On a yearly basis, manufacturing production in the U.K. decreased 1.9% in March, in line with forecasts, after a 1.6% drop in February. It was the largest decrease since May 2013.
The National Institute of Economic and Social Research (NIESR) released its estimate of gross domestic product (GDP) for the U.K. on Wednesday. The GDP estimate rose by 0.3% in three months to April, after a 0.4% growth in three months to March. The previous figure was revised up from a 0.3% growth.
Indexes on the close:
Name Price Change Change %
FTSE 100 6,162.49 +5.84 +0.09 %
DAX 9,975.32 -70.12 -0.70 %
CAC 40 4,316.67 -21.54 -0.50 %
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