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HFXE - Eurozone Flash PMIs - Germany On Cusp Of Recession France Doing Well
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The German export oriented problem
Germany's manufacturing sector is roughly - at 25% rather than the more normal 12% - twice the size as a portion of the economy than other rich countries. That manufacturing sector is also more reliant upon exports than is usual in other countries. Thus, as we have the more general global and trade slowdown, the German manufacturing sector gets it in the neck.
The question then becomes whether the economy as a whole will move into recession. The answer is likely yes. The official description of recession is two quarters