5 Sept 2022 Eurozone Monitor Leading Indicators Still Signal a Recession in Germany

Claus Vistesen (Chief Eurozone Economist)2nd Sep 2022 15:20Eurozone, Daily Monitor, Weekly Monitor

Germany is now likely entering a technical recession, but inventories and net trade are wildcards.
The survey data in Germany are plunging, and real M1 growth is sinking without a trace...
...But near-real-time data are holding up and early hard data for Q3 have been robust.

composite pmi electricity energy energy prices exports gdp growth germany hicp hicp inflation ifo ifo expectations industrial production inventories m1 net exports net trade pmi pmis q1 q2 q3 real m1 recession recreation retail sales sales data spending growth survey data trade us

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