Germany – Early Bird still deep in red territory

As in the previous month, our leading indicator for the German economy stood at -0.19 points in October.

Dr. Ralph Solveen

Commerzbank Economic Research

November 10 2023

The weaker euro compensated for the further deterioration in the external economic environment and tighter monetary policy. With its negative value, the Early Bird continues to clearly signal a difficult environment for the economy, which speaks against an imminent economic recovery.

The German economy contracted slightly in the third quarter, and our Early Bird gives little hope of a significant improvement in the economy in the near future. This is because its recovery observed in the last two months did not continue in October ...

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