3 Aug 2022 EZ Monitor The German Economy is Likely in Recession; When is the Recovery?

Claus Vistesen (Chief Eurozone Economist)2nd Aug 2022 15:01Eurozone, Daily Monitor

Risks are tilted towards a downward revision of Q2 GDP growth in Germany, to a small contraction.

Near-real-time data in Germany are holding up, but surveys and real M1 growth are terrible.

Germany is now likely in recession; we expect tentative signs of a rebound by Q1-23.

August bloomberg bloomberg survey consumer economy energy financial markets forecasts gdp gdp data german economy germany growth households industrial output inventories leading indicators m1 m1 growth markets money supply net trade new orders orders production q2 q2 gdp q3 real m1 real m1 growth recession recreation retail supply survey surveys trade

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3 Aug 2022 EZ Monitor The German Economy is Likely in Recession; When is the Recovery?

Related Publications

PM Datanote: U.S. Personal Income and Spending, August

PM Datanote: Unemployment rate, Brazil, August, 2022

EM Asia Datanote: Core Production, India, August

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