Market Updates
Euro Area Sentiment Improved After Trade Deficit Narrowed and Industrial Output Rebounded
Bridgette Randall
13 Jan, 2023
Frankfurt
European market indexes closed at 9-month highs and investors searched for bargains among beaten down stocks.
Market sentiment was upbeat after the U.S. inflation moderated in December and China's international trade in December was ahead of expectations.
Investors also turned positive after Chinese policymakers proposed a $67 billion 21-point action plan to help the leading 30 property developers and support the rebound in the moribund sector.
The Euro Area trade deficit soared in November from a year ago but dropped to a 9-month low after exports expanded and imports fell sharply.
Industrial production in the currency zone also rebounded 1.0% in November after contracting 1.9% in October and the production declined 2.0% from a year ago after falling at a faster pace of 3.4% in October.
Moreover, Germany's economic growth slowed in 2022 and the UK's economy unexpectedly expanded in November.
Euro Area Trade Deficit Expands
The Euro Area trade deficit in November surged after imports rose at a faster pace than exports, Eurostat said in its latest monthly report.
Exports rose 17.2% to
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