The consolidation of Eurozone public finances has made good progress in recent years, with the average fiscal deficit falling to a record low in 2018. But the legacy of the European debt crisis still looms large.
Good news for Germany’s industrial outlook: New orders in the manufacturing sector rose in April by a seasonally adjusted 0.3% compared to the previous month, meanwhile the value for the month of March was corrected upwards slightly (0.8%).
The German economy’s strong start to the year can largly be attributed to economic impulses coming from the domestic economy. However, positive special effects - including the rather mild winter, catch-up car purchases and expansive fiscal measures supportive of private consumption - probably helped beautify the Q1 result.