Independent Strategy

Tags: Germany

Deterioration continues to run at pace, with some rebound in domestic demand failing to offset continuing weakness on the export side.  The release points to a further deterioration in exports in the coming months, although the decline in industrial production is running more closely, suggesting that a further downward adjustment/slump is not needed there.

Germany

POST » 25th March, 2019 » March Germany IFO Survey

While there looks to have been an improvement in March it’s generally led by a better services performance.  Looking at industry the trajectory remains weak with the ‘IFO clock’ remaining in downswing territory amid a further mild deterioration in expectations.  This continues to suggest ongoing manufacturing weakness, confirming the deterioration seen in the manufacturing PMI.

Special Post: Umbrella Idea

REPORT » 11th January, 2019 » Special Post: Umbrella IdeaEnd of the ICE age

There have been various points of blame for weak auto sales. The most under-appreciated input has been technological innovation, as…

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