Germany’s BDI industry association said that “after six consecutive years of growth, Germany’s industrial sector is stuck in recession since the third quarter of 2018.” Manufacturing output is expected to contract -4% this year, versus 1.2% growth in 2018. Exports will only increase 0.5% in 2019, down from 2.1% in 2018, weakest since global financial crisis in 2009.
BDI also said global industrial output is production and is set to rise 1% this year only, slowed from two years of 3% growth. It added “in industrialized countries, we even expect industrial production to stagnate. In emerging economies, industrial production will only grow by two percent. That’s the lowest production increase in ten years.