German industrial output fell more than expected in September, data showed on Th...
BERLIN - German industrial output fell more than expected in September, data showed on Thursday, pointing to ongoing weakness in the sector and indicating that Europe’s largest economy will slip into recession in the third quarter.
“It’s not a nice number. The decline in industrial production in September makes a technical recession almost official now,” said Thomas Gitzel, economist at VP Bank. Germany’s export-reliant manufacturers have been suffering from a slowing world economy and business uncertainty linked to a trade war between the United States and China, and Britain’s planned, if delayed, exit from the European Union.
In the July-September period, industrial production declined by 1.1% on the quarter, the Economy Ministry said. Construction remained stable but declines were registered in factories making chemicals, metal products, electrical equipment, machinery and motor vehicles or parts.
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