In all likelihood, Germany’s industrial economy ended last year sinking and maybe too quickly. What was actually reported, however, exceeded every pessimistic guess and expectation – by a lot.
IP absolutely plummeted in the final month of 2019. Compared to the prior December, the index was down an alarming 6.7%. Minus seven doesn’t sound too until look below and realize that Germany’s worst month during the 2012 recession had meant -2.8% for IP. December’s updated figure is comparable to November…2008.