German factory orders dropped unexpectedly by 2.1% month-on-month in December 2019, missing market expectations of a 0.6% advance. The Eurozone’s largest economy’s production figures have been less than stellar in previous months, so the ECB and the markets are sure to be keeping a close eye on them.
Christine Lagarde gave a speech yesterday in which she warned of the short-term uncertainty facing European businesses, and the ‘changing landscape’ in the longer term, highlighting ‘global risks – trade, geopolitical and now the outbreak of the coronavirus’. She again emphasised her new approach to the ongoing strategy review, with its new emphasis on climate change.
