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Expand chart
Data: Investing.com; Chart: Axios Visuals

Germany's manufacturing sector has been contracting all year, and its economy is at serious risk of falling into recession.

The state of play: Things continue to worsen for Europe's largest economy. This month its manufacturing sector showed its worst reading in 7 years, a continuation of a crumbling industry that just last month saw the sharpest slide in factory orders since the financial crisis.

  • In April, analysts at IHS Markit warned that the manufacturing sector was "clearly in deep recession" and companies had begun laying off workers.
  • "A large fall in the PMI is of course worrisome, particularly if it is a fall from a level that was already low," Jeromin Zettelmeyer, a senior fellow at the Peterson Institute for International Economics, tells Axios. "There is volatility in these numbers, so I would not panic, but I am indeed worried."

The big picture: The news is particularly bad, given that the European Commission had just written Germany's expected 2019 GDP growth down to 0.5%, and that was including higher expectations for July's manufacturing numbers.

What's next: Finance ministers from across Europe implored Germany to unleash fiscal stimulus measures in a report from the European Fiscal Board earlier this month. But calls for increased spending from Germany have been coming since February and thus far have not been heeded.

  • "The high dependence on exports and the Chinese sales market is increasingly becoming a burden and the trade dispute hangs like a sword of Damocles over the one-time poster boy of the euro region," said Patrick Hussy, a director at global investment research group Sentix. "A recession looks unavoidable."

Go deeper: Germany is Europe's most economically dangerous country

Go deeper

Ina Fried, author of Login
13 mins ago - Technology
Column / Signal Boost

Huawei sanctions snarled chip supply chains

Illustration: Sarah Grillo/Axios

The largely successful U.S. effort to hobble China's Huawei has benefitted a host of other tech companies — from smartphone makers such as Apple and Xiaomi to chipmakers like Qualcomm to network vendors including Nokia and Ericsson.

Yes, but: The massive disruption to the industry furthered an industry wide mismatch between supply and demand, exacerbating the global chip shortage.

Tina Reed, author of Vitals
33 mins ago - Health

Overturning Roe could strain abortion access even in blue states

The Supreme Court is reflected in a woman's sunglasses during a march Oct. 2. Photo: Andrew Caballero-Reynolds/AFP via Getty Images

If the Supreme Court overturns Roe v. Wade, abortions could be harder to access even in states where they remain legal, because those clinics could be flooded with patients from states that have cracked down.

The big picture: This has happened before, and clinics fear the crush of demand would be a major problem in the immediate wake of a decision that would allow states to ban abortion.

A critical race theory founder says he's being inundated with threats

Richard Delgado. Photo: Courtesy of Richard Delgado

Richard Delgado, one of the founders of the critical race theory movement, tells Axios he and his wife have been receiving a steady stream of threatening messages since the coordinated, conservative campaign against critical race theory began.

Why it matters: Educators across the country — even some elementary school teachers — have faced harassment and threats over the past year over lesson plans that teach about system racism in the U.S.