If Germany is the European leader, one can easily see how this bodes for the rest across the pond as well as DEMAND for goods and services coming out of the U.S.
According to Reuters Ifo economist Klaus Wohlrabe said on Monday he expected zero growth in the fourth quarter in Germany and that there were almost no bright spots for German industry at present. "Things have not gone well for German industry and there are no bright spots for industry," he said. (click chart to enlarge)
Business sentiment darkened in October for a sixth month running, according to the Munich-based Ifo think-tank's business climate index, which fell to 103.2 from 104.7 the previous month. That was its weakest reading since December 2012.
Wohlrabe said recent upward momentum in the Purchasing Managers' Index (PMI) for Germany was not yet visible. Only firms' export expectations had risen slightly, he said, although it remained to be seen if this was sustainable.
Hans-Werner Sinn, President of Germany’s Ifo In
