Forecasts

Germany – Early Bird in decline

Our leading indicator for the German economy fell from 32 to 29 points in October, continuing its slight downward trend. This is because the tailwind from monetary policy is gradually subsiding and the global economic environment has deteriorated slightly. However, the Early Bird remains clearly in positive territory, continuing to signal an economic upturn. This is all the more true given that the Early Bird does not take into account fiscal policy, which is likely to give the economy a noticeable boost in the coming year.