The problem areas in Europe and the global economy remain largely the same, which does not make it any better. Germany's weakness is also weighing on the Euroland economy.

Internationally, the Latin America region is attracting attention. From the investors' perspective, the election of the new Brazilian president nourishes hope for an end to the recessionary phase. In the USA, on the other hand, it is becoming more and more apparent that the tax boom sparked by the US President in 2018 is slowly running out of steam. 2019 will be harder.