The industrial data out of Germany just keeps getting worse. This week we’ve already seen terrible factory orders, a slump in industrial production and Thursday’s export meltdown. All of them had their worst month in five years, throwing a massive cloud over the success story usually associated with the German economy. But it’s not a surprising development to Steen Jakobsen, chief economist at Saxo Bank. He had some harsh words for Germany in a note in May this year: It strikes me that the one thing that is being ignored by the market is the coming slowdown in Germany. Of …read more
Source: Business Insider
