Central Banks
German Industrial Production Declines on Car Manufacturing
- Europe’s No. 1 economy still struggling to overcome stagnation
- Data are ‘cold shower’ for hopes of a ‘speedy recovery’
Germany’s economy contracted by 0.1% in the second quarter.
Photographer: Krisztian Bocsi/BloombergThis article is for subscribers only.
German industrial production dropped in July — highlighting the underlying troubles of Europe’s largest economy after it unexpectedly shrank last quarter.
Output decreased 2.4% from June, worse than predicted by a single analyst in a Bloomberg survey. Automotive was the main driver, though most sectors were down, the statistics office said.