About this work
Weak manufacturing had not yet spread substantially to services in September 2019, even in Germany, where the industrial recession was especially severe. Jonathan Fortun and Robin Brooks assess this divergence alongside indicators suggesting that manufacturing was approaching a bottom. Their relatively constructive global outlook remains conditional on services retaining their resilience.
Abstract
Weak manufacturing had not yet spread substantially to services in September 2019, even in Germany, where the industrial recession was especially severe. Jonathan Fortun and Robin Brooks assess this divergence alongside indicators suggesting that manufacturing was approaching a bottom. Their relatively constructive global outlook remains conditional on services retaining their resilience.
Cite this work
Jonathan Fortun, Robin Brooks (2019). GMV: The Manufacturing Recession vs the Services Economy. Institute of International Finance.