"Even if order books and backlogs of work still look good, Germany likely flirted with a technical recession in H2. We have revised our Q4 GDP forecast to 0.0%." — Daniel Harenberg of Oxford Economics.
"The decline was broad-based across sectors, with no bright spots: manufacturing fell by 1.8% m-o-m with the consumer goods sector once again being the major drag (-4.1% m-o-m vs. -3.3% in Oct.) ... Today’s data were both bad and unexpected. A technical recession in German industry now seems likely." — Stefan Schilbe of HSBC.
"Germany likely was in recession in H2 2018 ... Yesterday’s manufacturing data in Germany provided alarming evidence of a much more severe slowdown in the second half of last year than economists had initially expected. Industrial production plunged 1.9% month-to-month in November, driving the year-over-year rate down to a decade-low of -4.6%. The headline was hit by a perfect storm across all sectors." — analyst Claus Vistesen of Pantheon Macreconomics.
Submitted January 10, 2019 at 01:20PM by nevernotdating http://bit.ly/2slVKj2
