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Germany May See No Growth This Year as Manufacturing Slumps
Monday, 23 September 2019 14:57 WIB | ECONOMY |Ekonomi Jerman

Germany™s private sector is suffering its worst downturn in almost seven years as a manufacturing slump deepens, raising pressure on the government to add fiscal stimulus.

A Purchasing Manager™s Index fell to 49.1 in September from 51.7 a month earlier, according to IHS Markit. The reading was worse than economists predicted and the lowest since October 2012. It™s also the first reading below 50, signaling contraction, since April 2013.

The confluence of trade tensions, challenges for the auto industry and looming Brexit are œparalyzing order books in manufacturing, said Phil Smith, an economist at Markit. The result is the worst slump German industry has seen since the depth of 2009 financial crisis, he reckons.

Source : Bloomberg

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