Latest data released by Destatis – 14 October 2019
- Prior -0.8%
- Wholesale price index -1.9% y/y
- Prior -1.1%
Slight delay in the release by the source. The index measures the value of sales made by wholesalers in Germany, it provides an indicator of consumption and retail pattern.
Those are some really rough figures and they will continue to heap more pressure on the German economy in 2H 2019 as consumption activity is seen declining. Add that to the bleak manufacturing outlook and there’s your recipe for a recession.