Germany – Early Bird even deeper in red territory

Our leading indicator for the German economy fell in July from -0.36 to -0.39 points.

Dr. Ralph Solveen

Commerzbank Economic Research

August 3 2023

The decisive factor was a stronger euro, which was only partially offset by a somewhat less weak global economy. The Early Bird thus remains deep in the red, which does not bode well for the German economy in the months ahead.

The outlook for the German economy remains gloomy. In July, our Early Bird fell again to -0.39 points, deep in negative territory, indicating clearly elow-average conditions for the German economy.

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