- European Commission
A bulk of data releases on the European economy provided mixed diagnoses for largest economic trend setters over the continent for March and April. While German industrial output dropped 1.3% in March, falling short of investor expectations, data on the trade balance showed a positive trend, jumping as high as 26 billion euros, compared to a 20.6 billion euro investor estimate, and ultimately sent mixed signals about German economic health. Destatis reported that exports increased 1.9% in March from a month earlier, while imports dropped 2.3%. Moreover, according to the Bundesbank, Germany's current account increased to 3.04 billion euros, up from 21.1 billion a month earlier.
France displayed weaker economic performance over the third month of the year, as industries followed a pattern similar to Germany's, disappointing investors with a 0.3% decline in output, while an advance in government deficit added to the aggravation. On an annual basis, industrial output in France fell 0.8% in March, down from 0.4% posted in February. According to the European Commission's Spring Economic Forecast, France's economic growth outlook was left unchanged, with the EC forecasting it will grow 1.3% and 1.7% in 2016 and 2017, respectively. Last year, the French economy expanded by 1.2% of GDP.
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