Exposure rates of the Dorval Asset Management Range – 14th February 2020

Germany has just announced stagnating 4Q 2019 GDP, while its political situation has taken a more complex turn, with some observers expressing concern on the country’s economic outlook after its strength has impressed the entire world since 2005 (cf. chart 1). 

Some see the crisis in the automotive sector, the deterioration in price competitiveness and the increase in the household savings rate as symptoms of some serious problems in the making, but we do not subscribe to this view.

 

Performances in Germany since 2005
Per-capita GDP for working-age population

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