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German Companies Brace for Economic Recession as Orders Crumble

Thursday, 22 August 2019 14:47 WIB Ekonomi Jerman German Flash Manufacturing PMI

Shrinking order books and expectations for a decline in output signal companies in Europe’s largest economy are bracing for a possible recession. German manufacturing shrank for an eighth month in August, barely offset by still-solid services, according to IHS Markit. Overall business confidence declined and orders fell for the third time in four months. A Purchasing Managers’ Index stood at 51.4, close to its lowest level in six years. GDP declined in the April-June period, and persistent signs of weakness in Europe’s powerhouse -- driven in particular by mounting global trade tensions and slowing demand in China -- don’t bode well for hopes that the euro area will...

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