Germany’s central bank releases its monthly report
- Q1 GDP growth noticeably lower than in previous quarters
- Manufacturing made minor contribution to Q1 GDP
- Strikes in metal and electrical industries likely to have played a role on low production levels
- Unusually strong flu epidemic has also dampened economic activity in other sectors
- Order situation in manufacturing is still very good
Still ever the optimist it seems. You have to wonder how much more of a slowing down in economic data will only start to change their view.
I reckon this will be a similar take by the ECB when they meet later this week.