KAY TO MAJOR: The German economy has survived the Iranian war

According to news from July 7, Andrew Kenningham, a KIM macro-economicist, said that industrial data had improved today after last week’s strong retail data, indicating that Germany appeared to have survived the Iranian war. In May, the value of industrial production grew by 0.9 per cent in relation to the ring, which together indicates that the German economy is likely to expand in the second quarter. However, Kenningham pointed out that the growth of industrial output was driven mainly by car production, and that this momentum was threatened to continue given the challenges facing the industry. He said: “Although the German manufacturing industry does not seem to have been significantly affected by the Iranian conflict, this does not change the fact that: Their share in the economy is likely to decline in the medium term.”