Indicators
German Industry Shrinks for Sixth Month as Recession Looms
- Industrial production declined 0.7%, economist est. 0.3% gain
- Economy probably contracted in final quarter of 2023
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German industrial output unexpectedly declined in November, underscoring the persisting manufacturing woes in Europe’s largest economy.
Production declined 0.7% from October, led by capital goods, and intermediate goods, the statistics office said Tuesday. That’s the sixth consecutive drop and defies economists in a Bloomberg survey, who’d predicted a 0.3% increase.