Central Banks
Germany Recession Risk Rises After Industrial Production Slump
- October output fell by 1% from month earlier; est. 1% increase
- Europe’s largest economy is struggling to find any growth
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German industrial production fell in October, kicking off the final quarter with an unexpected decline and dashing hopes that the key sector for Europe’s largest economy may slowly be overcoming its malaise.
Output decreased 1% from the previous month, worse than any forecast in a Bloomberg survey, which anticipated a 1% increase. The decline was mainly down to energy production, and “the automotive industry had a negative impact as well,” the statistics office said Friday.