Germany’s IFO: Manufacturing is still stuck in recession

Following the release of the German IFO Business Survey, the institute said that the German economy is showing resilience.
Additional Quotes:
Manufacturing is still stuck in recession.
The signs are that business will be very good this Christmas.
German manufacturing companies planning further production cutbacks.
Expects GDP growth of 0.2 percent in the fourth quarter.
It is too early to speak of a turnaround in the German economy.
Industrial orders still are not satisfactory, export prospects have also darkened.
The domestic economy is driving Q4 growth.
Consumption, construction and public spending among top growth drivers.
The shared currency keeps its range play intact above the 1.10 handle on the German data release as well as on the above comments. EUR/USD trades around 1.1020 so far this Monday, almost unchanged on the day.
Author

Dhwani Mehta
FXStreet
Residing in Mumbai (India), Dhwani is a Senior Analyst and Manager of the Asian session at FXStreet. She has over 10 years of experience in analyzing and covering the global financial markets, with specialization in Forex and commodities markets.

















