Contraction of German manufacturing points to recession

EPA-EFE/FOCKE STRANGMANN

The Eurogate container terminal at the port of Bremerhaven, Germany,25 March 2019.

Contraction of German manufacturing points to recession


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Germany, the fourth-largest economy in the world, is showing signs of a recession after the  country’s manufacturing activity contracted for the third consecutive month, according to a survey by London-based financial services provider, Markit

Yields on three-month US Treasury bills and 10-year notes fell below zero on 22 March for the first time since 2007. The German Bund also stood at -0.01%, a two-and-a-half year low. Japanese 10-year bond yields also dropped by 9.2%, hitting their lowest level since September 2016.

Munich-based think-tank Ifo published on 25 March suggesting that the economic mood in Germany improved in March, but manufacturing appears to be negatively influenced by Brexit.

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