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German Industry Unexpectedly Records Broad-Based Slump

  • Production falls 1.9% vs. median estimate for 0.3% gain
  • Decline in November led by consumer goods and energy
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Germany’s Industry Shock Raises Specter of Economic Recession
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German industrial output unexpectedly fell in November, putting the economy at risk of slipping into a technical recession at the end of 2018.

The 1.9 percent drop followed a 0.8 percent decline in October and extends a run of disappointing numbers from Europe’s largest economy. The decline in November production was broad-based and led by consumer goods and energy. Output was down 4.7 percent year-on-year, the most since 2009.