Reaffirms that Germany's recovery process is just beginning
- Industrial production has passed its lowest point
- Increase in received orders indicates output will pick up in the coming months
- But risks exist particularly in very slack demand from outside the euro area
- There will be GDP growth from Q3 onwards
A positive takeaway from the comments here is that underlying demand within the region is picking up. However, with global trade still largely subdued and that will be a particular concern in terms of aiding the speed of the economic recovery.
Perhaps the end of Q3 and/or Q4 will be more telling in terms of whether or not the world has moved on from the virus crisis in a more meaningful way.
