Economics
Europe’s Industry Battered by Lockdowns Nations Aim to Lift
- German industrial output dropped 9.2% in March, France 16.2%
- Germany Economy Ministry expects even steeper slump in April
Photographer: Lukas Schulze/Getty Images
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Industrial production in the euro area’s two largest economies cratered in March, highlighting the crippling impact of just half a month of factory closures to control the spread of the deadly coronavirus.
A 9.2% decline in output in Germany and a 16.2% drop in France are the latest signs of the severity of Europe’s slump. The warning from industry comes a day after the government in Germany eased some restrictions and assured it’s working on a plan to restart the economy.