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Two real economy numbers to blow any financial risk forecast to oblivion

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DE: Building industry in February 2009: Value of orders received down 17.5% from the previous year

WIESBADEN – As reported by the Federal Statistical Office (Destatis), the total price-adjusted value of orders received by building construction and civil and underground engineering enterprises in Germany decreased by 17.5% in February 2009 from the same month of the previous year. In this process the decrease in building construction demand (–23.7%) was stronger than in civil and underground engineering (–10.3%). As in January 2009 (–24.4% compared with January 2008), the marked decrease in February 2009 can be explained against the background of the overall economic trend and the weather conditions. The number of employees amounted to 666,000 at the end of February 2009. That was a decrease of 12,000 (–1.8%) compared with February 2008. http://www.destatis.de/jetspeed/portal/cms/Sites/destatis/Internet/EN/press/pr/2009/04/PE09__157__441.psml

UK: Gross domestic product, Preliminary estimate – 1st quarter 2009

Output within construction decreased by 2.4 per cent compared with a decrease of 4.9 per cent in the previous quarter. It should be noted that the output survey results used to compile more complete estimates are not available at this stage and the preliminary results are based on a smaller survey of changes in the balance of activity in the industry. http://www.statistics.gov.uk/pdfdir/gdp0409.pdf

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