ZDEU - Third-Wave Risks To Germany's Economic Recovery

• Leading indicators but also hard data signal a developing manufacturing sector boom while the government prepares the strictest lockdown to date in order to prevent the healthcare system from being overwhelmed by the third COVID-19 wave.
• The dichotomy between manufacturing and services is wider than ever - and it is not assured that the gap will eventually close from the side of services alone.
• IHS Markit does not judge the overall economic rebound currently underway to be at risk, but its momentum during the remainder of 2021 could easily disappoint, especially during the second quarter.

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