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Germany’s economy ministry says GDP likely increased moderately in Q1

Comments from Germany’s economy ministry

  • German economy had a subdued start to 2019
  • That points to higher risks and uncertainties abroad
  • Domestic demand remains solid, fiscal impetus provides support for the economy
  • Weak phase in industrial sector likely to continue
  • Mainly stems from weak demand from abroad

Factory activity remains a real cause of concern for Germany and that won’t be helped if the US does slap the region with auto tariffs in the coming months. For now, the services sector remains one of the few bright spots but it remains to be seen how long it can shoulder the weight of the German economy on its own.
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