Germany Awaits Clear Economic Recovery Signals Amid Mixed Data

Germany is still waiting for clear signs of economic recovery, according to Ralph Solveen of Commerzbank. According to Jin10, recent improvements in business sentiment and PMI data indicate expansion in both manufacturing and services. However, these surveys were conducted before the outbreak of the Iran war. Meanwhile, core industrial orders fell in January, with December's figures revised downward. "So far, hard data only shows that the industrial sector's downward trend has ended; signs of recovery have yet to appear," Solveen noted. The construction sector has been recovering, but both PMI and order data show weak signals. Additionally, the retail sector shows no signs of imminent recovery, with sales stagnating since last spring.