Japanese and German economic data show slower growth

Japan's economy improved in April but growth may be about to slow. Nikkei reports:

Japan's composite index of coincident economic indicators rose 1.1 points from a month earlier to 101.6 (2005=100) in April, according to preliminary data released Tuesday by the Cabinet Office.

The index of leading indicators, a barometer of economic conditions several months down the road, slipped 0.2 point to 101.7.

Further evidence of slowing growth for Japan came from Reuters:

Japan's service sector sentiment index fell to 47.7 in May, a Cabinet Office survey showed on Tuesday, the first fall in six months... from 49.8 in April...

The outlook index, indicating the level of confidence in future conditions, fell to 48.7 from 49.9 in April.

In Germany, exports fell 5.9 percent in April, but this is after surging 10.8 percent in March.

German industrial production maintained growth in April after also having experienced a surge the previous month. Bloomberg reports:

German industrial production increased more than economists forecast in April as a weaker euro boosted export demand and local companies stepped up spending.

Production rose 0.9 percent from March, when it jumped 4.3 percent, the Economy Ministry in Berlin said today. Economists had forecast a 0.7 percent gain, the median of 35 estimates in a Bloomberg News survey shows. From a year earlier, production increased 13.3 percent when adjusted for the number of work days.