Latest data released by Destatis - 7 August 2019
- Prior +0.3%; revised to +0.1%
- Industrial production -5.2% vs -3.1% y/y expected
- Prior -3.7%; revised to -4.4%
Slight delay in the release by the source. The softer factory activity in Germany continues to rear its ugly head and reaffirms the notion of a manufacturing recession in the economy. This will feed into Q2 data but the year-on-year drop highlights that the current situation is rather dire as we look towards Q3 data.
