Jan 8, 2019

A drop in Germany's industrial output stokes recession fears

Parts of Germany were hit by a long stretch of hot, dry weather last July that impacted outputs. Photo: Sean Gallup/Getty Images

Germany's industrial output unexpectedly fell in November, which may mean that its economy entered into a technical recession at the end of last year, Bloomberg reports.

Why it matters: Europe's largest economy had already cut its growth expectations by a third, announcing in December that it expected the economy to grow by just 1.5% in 2018.

  • "The decline ... was broad-based and led by consumer goods and energy. Output was down 4.7 percent year-on-year, the most since 2009," Bloomberg's Carolynn Look writes.
  • The data "has clearly increased the risk of a technical recession in Germany in the second half of 2018,” said Carsten Brzeski, chief economist at ING Germany.

Go deeper: 2019 could be worst year for economy since '08

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Coronavirus dashboard

Illustration: Sarah Grillo/Axios

  1. Global: Total confirmed cases as of 3 p.m. ET: 766,336 — Total deaths: 36,873 — Total recoveries: 160,001.
  2. U.S.: Leads the world in confirmed cases. Total confirmed cases as of 3 p.m. ET: 153,246 — Total deaths: 2,828 — Total recoveries: 5,545.
  3. Federal government latest: The White House will extend its social distancing guidelines until April 30 — Rep. Nydia Velázquez diagnosed with "presumed" coronavirus infection.
  4. State updates: Virginia and Maryland issued stay-at-home orders to residents, joining 28 other states — Florida megachurch pastor arrested for refusing to call off mass services.
  5. World updates: Italy reports 1,590 recoveries from the virus, its highest ever.
  6. In photos: Navy hospital ship arrives in Manhattan
  7. What should I do? Answers about the virus from Axios expertsWhat to know about social distancingQ&A: Minimizing your coronavirus risk
  8. Other resources: CDC on how to avoid the virus, what to do if you get it.

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Cuomo: Engaging in politics during coronavirus crisis is "anti-American"

New York Gov. Andrew Cuomo said during a Monday press briefing that he won't get into a political tussle with President Trump — calling it "counterproductive" and "anti-American" — as his state deals with the most confirmed coronavirus cases in the country.

The backdrop: Trump said during an appearance on "Fox & Friends" earlier Monday that Cuomo has received high polling numbers during the outbreak because New York has received federal aid.

Maryland and Virginia issue coronavirus stay-at-home orders

Data: Axios reporting; Map: Danielle Alberti/Axios

Maryland Gov. Larry Hogan and Virginia Gov. Ralph Northam issued stay-at-home orders on Monday, with exceptions for residents engaged in essential services, including health care and government functions.

The big picture: The states are the latest to announce policies to enforce social distancing, which have affected almost 250 million Americans. More than 1.5 billion people worldwide had been asked to stay home as of last week.

Go deeperArrowUpdated 3 hours ago - Health