Expert Views on the German Economy
Hamburg Commercial Bank Chief Economist Dr. Cyrus de la Rubia commented on the latest private sector PMI data, stating,
“The struggles in the industrial sector are starting to spill over into services. Many service providers work directly with manufacturing companies, and as the latter tighten their belts, outsourced services are often the first thing on the chopping block. As a result, service providers have been cutting staff over the past three months, and the pace of layoffs sped up in September.”
On Monday, the German government predicted the German economy will contract by 0.2% in 2024.
Industrial Production and the ECB Rate Path
The August…
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