Toll Index in September – A roller coaster

The Toll Index shows that September has been a rather bad month for German industrial production. While more trucks crossed the borders than last month a decline is to be observed on a year on year basis. Transportation activity as measured by kilometers also points to a negative direction both in comparison to last month and September of last year. All in all if you thought we were out of the woods, we aren’t and if you thought its all blue skies from now on, it’s not. It’s a roller coaster!

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