[Berlin, Reuters]-The German Federal Statistical Office announced that the industrial production index in July declined unexpectedly, and the German economy entered a recession in the third quarter due to sluggish manufacturing. Suggested the possibility.
The industrial production index in July fell 0.6% from the previous month. Declining production of capital goods pushed the index down. The market was expected to rise 0.3%.
Bankhouse Lampe economist Alexander Kruger said, “The recession in the industrial sector will continue. Production has declined for the fifth consecutive month.” ”Was shown.
The June portion was revised from a 1.5% decline to 1.1%.
Germany, an export economy, has been hit by the uncertainties and global economic slowdown brought about by US President Trump's “US First” trade policy and the UK's withdrawal from the European Union.
Prime Minister Merkel, who visited China on the 6th, pointed out that the US-China trade war is affecting the whole world and said that both countries hoped to solve the problem early.