Subscriber OnlyMarketsEconomicsGermany Is Flirting With Recession After Investor Confidence FallsExpectations index fell to -44.1 in August; median est. -28.0Economy probably shrank in 2Q, data signal deepening downturnSaxo Bank’s Hardy Expects Recession in Germany’s Manufacturing SectorByKristie Pladson+FollowAugust 13, 2019, 9:05 AM UTCUpdated onAugust 13, 2019, 10:04 AM UTCTerms of Trade is a daily newsletter that untangles a world embroiled in trade wars. Sign up here. Investor confidence in Germany’s economic outlook worsened for a fourth month after a string of disappointing figures raised recession risks.