Germany’s BDI industry group said in a report today that “the industrial sector is likely to remain in recession” this year. That would be the “longest since reunification” in 1990.
It added, “With the production slumps in China and the quarantine measures taken by individual countries, it is becoming clear how vulnerable the export-oriented and internationally organized German economy is.”
Separately, VDMA engineering association economist Ralph Wiechers also said, “we have to expect disruptions along the supply chain from China to Germany.”
