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Strategies & Market Trends : 2026 TeoTwawKi ... 2032 Darkest Interregnum -- Ignore unavailable to you. Want to Upgrade?

To: Haim R. Branisteanu who wrote (98770)	2/19/2013 11:37:03 AM
From: Haim R. Branisteanu	Read Replies (1) \| Respond to of 217948

EUROPE: Marc Chandler of Brown Brothers Harriman..... 19-Feb-2013 EUROPE: Marc Chandler of Brown Brothers Harriman warns about getting overly enthused about the better-than-expected German ZEW survey released (expectations at 48.2%, above MNI's median of 35.0 and outside the range of 25.0 to 42.0, and at the highest level since April 2010). Market players should take a look at the collapse of auto sales in Europe. "Sales in January fell 8.7% from a year ago, to levels not seen since at least 1990," he says. Ford was the hardest hit of the producers, with a 25.5% decline in European auto sales. Ford has idled three plants in order to bring output "more into line with sales." Chandler observes that European auto sales tumbled both "in absolute terms and relative to the US," with January auto sales rose 14% over January 2012 sales, even with a 2% increase in the payroll savings tax. "If companies follow Ford's example, and we see little reason for them not to, more plant closing and industry rationalization will act as another headwind on the regional economy," he says.