German manufacturers still taking a more pessimistic view for the remainder of the year


content provided with permission by FXStreetRead full post at forexlive.com

This
speaks
to
the
continued
struggle
in
Germany’s
manufacturing
sector,
which
is
the
key
economic
driver
for
Europe’s
largest
economy.
According
to
the
VDMA,
around
40%
of
German
manufacturers
see
revenue
continuing
to
fall
in
the
current
year
with
23%
expecting
stagnation.

Meanwhile,
almost
a
third
of
companies
are
rating
their
present
situation
as
being
“bad”
or
“very
bad”
while
only
29%
are
rating
it
as
“good”
or
“very
good”.

VDMA
economic
analyst,
Ralph
Wiechers,
says
that:


“Quite
a
few
companies
had
pinned
their
hopes
on
a
positive
second
half
of
2024.
However,
in
terms
of
incoming
orders,
these
hopes
have
not
materialised
for
many.”