Dec. 8 (Bloomberg) -- German industrial output unexpectedly fell for the first time in three months in October, led by a drop in production of energy and investment goods such as machinery. Output decreased 1.8 percent from September, when it advanced 3.1 percent, the Economy Ministry in Berlin said today. Economists forecast a 1 percent gain, according to the median of 38 estimates in a Bloomberg survey. From a year earlier, production declined 12.4 percent when adjusted for the number of work days. Germanyâs recovery from its worst recession since World War II may slow as the impact of government stimulus measures, such as the now-expired cash-for-clunkers program, wane and a stronger euro damps exports. Factory orders unexpectedly fell for the first time in eight months in October, the ministry said yesterday, led by a decline in sales abroad. http://www.bloomberg.com/apps/news?pid=20601085&sid=aRDsrqjyRpNM
Again this use of the word unexpected in relation to an economic figure. 'unexpected' by who? Economists at Investment banks and Governement spin departments? Or isit 'unexpected' because you would not expect further declines in such figures now that the recession is over and lambs and kittens and fluffy bunny rabbits are playing happily in the warm economic spring sunshine. (this idyllic picture was in one of my childhood books. but unfortunately on the next page a slavering wolf kind of spoiled the happy party)
Of course, we speak about smart ass economists at large I banks. Why would mainstream Bloomberg otherwise use the term "unexpected" ?