Posted 1/8/2024, 9:30:00 AM
German economy faces challenging outlook despite modest factory orders gain
- German factory orders rose 0.3% in November, falling short of expectations of a 1.1% gain
- The small increase underscores enduring industrial woes in Germany caused by energy crisis and weak demand
- Threat of strikes, protests, and uncertainty over Berlin budget changes further challenge Germany
- Trade data more positive, with November exports seeing biggest monthly jump in over 1.5 years
- Forecasts bleak for 2023, with possible 0.3% GDP contraction marking "lost half-decade" for Germany economically