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.