All the day’s economic and financial news, as Germany’s factories suffer a 4.7% annual drop in output
- Introduction: German industrial output slumped in November
- Biggest annual drop since the financial crisis
- Analysts: Recession risks have increased
- ING: German economy still strong
Germany’s economy minister, Peter Altmaier, insists that its economy remains healthy.
The German economy is in a good shape and order books are full, German Economy Minister Peter Altmaier said on Tuesday, adding that he expects the economic upswing to continue.
“As economy minister, my role is not to badmouth the good current economic mood but to contribute so that there are more investments in Germany and new jobs are created,” Altmaier said to German broadcaster ARD.
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Here’s Bloomberg economist Jamie Murray:
A simple mapping between industrial production and German GDP growth points to recession (even assuming a December rebound). Not good. Full analysis on terminal here: https://t.co/bKB9rywdFH pic.twitter.com/2z7uP57UsN