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Macro Nugget: German services keeping things together

For how much longer can Germany be kept alive by its services production?
2024-11-26
<a href="https://stenoresearch.com/author/ulriksimmelholt/" target="_self">Ulrik Simmelholt</a>

Ulrik Simmelholt

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Yesterday, we received the Ifo headline data out of Germany, and one thing is certain: the German manufacturing sector is in dire need of help. For example, Thyssenkrupp is planning to cut or relocate one-third of its entire workforce by 2030. A functioning government would surely help address these issues, but the Germans will have to wait until spring for leadership capable of delivering much-needed CPR to the manufacturing industry. Until then, they must hope that the services sector will keep a spark alive in the economy, as it has done over the past few years.

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