Germany : Worrying stop on economy
Industrial Production drop an unexpected 4 % in August. Recession is haunting the economy.
IMF review its forecast at 1.4 % for Germany and 0.8 % for Europe.
The shining star of european union, Germany has always been depicted as the good student of europe, but the good forecast left room to worst data. While the industrial production has contracted by 4 %, the order book is also emptying at fast speed – 5.7 %.
These are the worst result for Germany since 2009, we now expect growth to be at best at 0 % for third quarter and they could dive in recession as soon as 4th quarter.
The good news is this could help Germany to soften its position in Europe about a large european public investment program in euro zone.