German Economy Ministry said in the April Economic Report today that the economy continues to show a “mixed picture”. Service and construction are “expanding strongly”. However, “global oriented manufacturing is still in a weak phase”.
The reported note that both global industrial production and world trade were on the decline at the end of 2018. And this “continued in January 2019 in industrial production. Trade had a “slightly recovery” but remained below last year’s level.
PMI was at lowest since June 106 while Ifo reflected a “gloomier mood”. And, “in light of the indicators and the accumulation of global risks, international organizations are predicting a less dynamic, but still upward, global trend.”
Also, “industrial economy is likely to remain subdued in the face of declining foreign demand and high international risks.”
