The German central bank comments in its monthly report
- German economic output could stagnate in Q4 2019
- Domestic economy has been surprisingly robust recently
- But decline in production of export-reliant industry is likely to continue
- Companies in Germany are now more reluctant to invest
They do note however, there are "first cautious signs that industry could stabilise moving forward" adding that "the order situation of industrial companies has not worsened in recent months and exports have increased significantly".
Those are some pretty words but at the end of the day, it just alludes to hope more than anything else. There's not even any hint of a nascent recovery in the German manufacturing sector and the PMI data today confirms that.
