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.

Full release here.

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