The Federal Statistical Office has just published data on industrial production (production in the manufacturing sector) for the month of October. Compared to October 2018, it has declined by 5.3% (in the previous month it was -4.5%). Most of the major press publications pay attention to the monthly comparison, i.e. from September to October 2019. Here there is a strong drop of 1.7%, although a plus of 0.1% was expected. Yesterday we discussed the most recent new orders, which are also extremely weak at -5.5% year-on-year. So, the strong industrial recession continues full steam ahead.
Is the slump in German industry now reaching the labour market? It is well known that the labour market is a lagging indicator that reacts late to developments that have already begun in the past. […]
The German producer prices for December have just been published by the Federal Statistical Office. On a monthly comparison it is a plus of 0.1% and in comparison with December 2018 it is a minus […]