Meanwhile, the manufacturing sector in Germany also nodded to companies changing down a gear with new orders falling at the fastest rate in four years.
Markit’s Purchasing Managers’ Index (PMI) for manufacturing, which accounts for about a fifth of the economy, tumbled to a 33-month low of 51.5 in December, down from 51.8 in November.
The number is inching closer to the 50.0 level which marks a contraction.
Stefan Schilbe of HSBC described recent downcast economic data from Germany as both “bad and unexpected” as he predicted a recession “now seems likely”.
Mr Schilbe told Business Insider: "The decline was broad-based across sectors, with no bright spots.
“Manufacturing fell by 1.8 percent month-on-month with the consumer goods sector once again being the major drag.
“Today's data were both bad and unexpected.
“A technical recession in German industry now seems likely.”
Source : https://www.express.co.uk/finance/city/1070571/Germany-news-recession-German-economy-finance-Peter-Altmaier-Angela-Merkel