Pantheon Macro: German industrial output will continue to weaken in the third quarter

Claus Vistesen, chief euro zone economist at Pantheon Macroeconomics, said German industrial output was likely to remain depressed in the third quarter.

German industrial output fell 1.5% on month in June, less than expected, due to weakness in the manufacturing sector.

Vistesen said that although the aerospace industry has found some support on the back of a large number of new orders, this subdued situation will continue into July and beyond, and indicators including surveys of managers are showing softer trends,” said Vistesen. It will be exactly the same in the third quarter.”