German manufacturers still taking a more pessimistic view for the remainder of the year

This speaks to the continued struggle in Germany’s manufacturing sector, which is the key economic driver for Europe’s largest economy. According to the VDMA, around 40% of German manufacturers see revenue continuing to fall in the current year with 23% expecting stagnation.

Meanwhile, almost a third of companies are rating their present situation as being “bad” or “very bad” while only 29% are rating it as “good” or “very good”.

VDMA economic analyst, Ralph Wiechers, says that:

“Quite a few companies had pinned their hopes on a positive second half of 2024. However, in terms of incoming orders, these hopes have not materialised for many.”

This article was written by Justin Low at www.forexlive.com.