FLGR - German Industrial Production Plunges Again
2024-02-07 05:35:00 ET
Summary
- Industrial production plunged again, ending the year 2023 at some 10% below pre-pandemic levels, but we are seeing the very first signs of light at the end of a long tunnel.
- The sharp drop in both exports and imports, as well as today’s industrial production, not only illustrates the weakness of the German economy’s backbone but also increases the risk of a downward revision of fourth quarter GDP growth.
- German industry remains stuck between cyclical and structural weakness, but the recent increase in industrial orders brought at least some vague light at the end of what increasingly looks like a very long tunnel.
By Carsten Brzeski ...
German Industrial Production Plunges Again