‘Boom!’: Did Germany Just Change The Game With Long-Awaited Fiscal U-Turn?

‘Boom!’: Did Germany Just Change The Game With Long-Awaited Fiscal U-Turn?

“The fact that there’s masses of fiscal room to tackle the slowdown doesn’t seem to matter in Berlin”, SocGen’s Kit Juckes lamented on Wednesday, after data out of Germany showed industrial production fell 5.2% YoY in June, the most in a decade. It was the latest in a string of abysmal data. Late last month, for instance, Ifo’s gauge of business expectations plunged to 92.2, the lowest reading since 2009. Just days earlier, while documenting the country's increasingly worrisome fac
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