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07-Oct-2019 23:25

he economic outlook in Germany is deteriorating with alarming speed and any mistake by policy-makers could push the country into a full-blown slump, a leading economic institute has warned. It is a notably more critical picture than a month ago,” said the Macroeconomic Policy Institute (IMK) in Düsseldorf.

The IMK’s early warning indicator said the recession risk over the next three months has jumped suddenly to 32.4pc as trade tensions mount and liquidity ebbs away in the international financial system.

That bigger part of the economy, the American consumer, is also looking fine.

"Headwinds include the rising dollar, weak demand in global markets, a downturn in business investment and financial market jitters."Regional manufacturing surveys are equally bearish. That was the fifth time the indicator has come in under 50 this year, which is the threshold for contraction.

Additionally, the number of workers that worked in manufacturing for the area declined, as did hours worked for those who were employed.