Indicators point to sustained period of German industrial weakness: ministry
Reuters
Published Jul 22, 2019 02:16AM ET
Indicators point to sustained period of German industrial weakness: ministry
BERLIN (Reuters) - Germany's manufacturing industry and exports are suffering from a slowing global economy, the finance ministry said in its monthly report on Monday, warning that weak order numbers suggested the industrial slowdown could be lengthy.
But the domestic demand picture seemed healthier, with employment levels still growing as companies took on new staff, if at a slower pace, though the ministry expected the pace to slacken still further there as well.
"Leading indicators as well as shrinking order books point to a lasting period of economic weakness in the industrial sector," the report said.
The report reflects the impression given by a host of indicators recently that the decade-long boom in Europe's largest economy has come to an end, as factors like Brexit and the risk of a trade war weigh on Germany's exporters.
Traditionally an export-led economy, Germany is increasingly relying on domestic demand and a still-buoyant services sector to sustain economic growth, a point that Chancellor Angela Merkel conceded during her summer press conference last week, when she said the government would try to stimulate domestic demand.
Get The News You Want
Written By: Reuters
Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.