The German locomotive also slows down. After the positive data on orders published yesterday, today bad news is coming from Berlin on the industrial production front: in June, the Ministry of the Economy recorded a drop of 1,1%. A real cold shower, considering that most analysts expected a substantially unchanged figure compared to May. On the contrary, in the same period, orders increased by 1,8%, even if several large orders contributed to this result.
The unexpected numbers published today by the leading continental economic power confirm fears of a global slowdown in the entire euro area. The risk is that these data will give the coup de grace to the European Stock Exchanges, which have been in serious difficulty for days under the weight of speculative attacks and even today almost all in the red. For this reason, the German Treasury tries to send reassuring messages, emphasizing that, despite the performance in June, the second quarter ended with a 2% increase in production. An attempt which for now has yielded no results: after 12 the Dax 30 index of the Frankfurt Stock Exchange was down by 30%.
