1. You Are At:
  2. Home
  3. Ap News
  4. Industrial production drops in Germany in October

Industrial production drops in Germany in October

Factory production in Germany dropped in October in another sign that Europe's largest economy may be slowing

Reported by: AP [ Published on: December 07, 2018 14:45 IST ]
Image Source : AP Industrial production drops in Germany in October

BERLIN (AP) — Official figures show that factory production in Germany declined in October in another sign that Europe's largest economy may be slowing.

The Economy Ministry said Friday that industrial production dropped 0.5 percent in October over September after adjusting for seasonal and calendar factors. The drop erased modest gains made in the last two months.

Despite the decline, ING Economist Carsten Brzeski says the latest figures still "support modest optimism," noting that "German industry has at least not lost more momentum but instead is treading water."

The German economy shrank by 0.2 percent in the third quarter compared with the previous three-month period, due in part to bottlenecks in getting new cars certified under tougher emissions standards.

Disclaimer: This is unedited, unformatted feed from the Associated Press (AP) wire.

Write a comment

Election 2018