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Germany’s Industrial Output Slows Again
Production of durable goods in Germany slipped by a seasonally adjusted 1.2% in October, following a 0.7% decline in September, according to the country's Economy Ministry.
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Production of durable goods in Germany slipped by a seasonally adjusted 1.2% in October, following a 0.7% decline in September, according to the country's Economy Ministry.
Analysts say the slide, accompanied by other signs of economic erosion, suggests Germany's economy remains fragile.
The country's trade surplus shrank by €2 billion to €16.8 billion from September to October, signals a possible weakening demand for the country's exported goods. Industrial orders in the country dropped 2.2% over the same period.
The gloomy statistics come as Germany's central bank raised its growth forecasts from the predictions it made in June. The Bundesbank now says the country's economy will expand by 0.5% this year (up from 0.3%) and 1.7% in 2014 (up from 1.5%). The bank , citing higher wages and lower unemployment, declares that the German economy "is in good shape."
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