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Comments from the Ifo economist, Klaus Wohlrabe, following previous data
- In Germany, the growth rate is slightly positive for the second half of 2019
- But finds that the recession is spreading in all important sectors of the German economy
- Indicates that the risk of Brexit deregulation has increased
- Do not believe that the ECB eases its policy today
ForexLive
The first signs of the third quarter were not encouraging for Germany as the manufacturing sector was in free fall as the recession worsened in this region. As this continues, the risk of spillover into the service sector will intensify and this will not bode well for the economic outlook.
With regard to his comment on the ECB, I am also more inclined to do so, as the Governing Council may find it appropriate to modify only its forward guidance, as it will not publish its latest projections on staffing levels. in September. That said, they will manage at the same time on a very very thin ice to handle the euro and inflation expectations.
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